Corn futures declined on Wednesday, with front-month contracts falling by 2¾ to 7¾ cents. The CmdtyView national average cash corn price dropped 7½ cents to $4.84 per bushel, as traders reduced risk ahead of a significant meeting between U.S. and Chinese leaders on Thursday.
Additionally, the USDA reported a private export sale of 100,000 metric tons of corn for the 2026/27 marketing year to Mexico. Export sales data is expected to show between 0.8 and 1.4 million metric tons in bookings for the week ending September 17.
Ethanol production dropped to 1.028 million barrels per day for the week of September 18, a decrease of 71,000 barrels. Ethanol stocks declined by 537,000 barrels to 25.683 million. The Coceral organization revised its EU and UK corn crop estimate for 2026 to 48.6 million metric tons, down 4.1 million from previous estimates.
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