Corn futures fell between 5 to 6.5 cents on Wednesday, with the CmdtyView national average cash corn price registering at $3.98 ¼, down 6 ¼ cents. The USDA announced a private export sale of 136,000 metric tons of corn to South Korea for the 2026/27 shipment. Ahead of the weekly Export Sales report set for Thursday, traders anticipate old crop business between 0.9 to 1.5 million metric tons (MMT) and new crop sales ranging from 100,000 to 600,000 MT.
In ethanol production, the EIA reported a weekly increase of 19,000 barrels per day, bringing the total to 1.108 million barrels per day. Ethanol stocks decreased by 362,000 barrels to 24.606 million barrels, while ethanol exports rose by 33,000 barrels per day to 135,000 bpd.
The NOAA’s 7-day forecast projects 1-2 inches of precipitation across much of the Central and Western Corn Belt, primarily by the weekend, with little expected in the Eastern Corn Belt regions of central Illinois to Ohio.
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