Corn futures gave back the bounce from Tuesday, with contracts closing the Wednesday session down 2 to 9 ½ cents, led by the nearbys. The CmdtyView national average Cash Corn price was down 9 1/2 cents at $4.19 3/4.
EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000 bpd in the week of 7/24, to the second largest weekly total on record at 1.133 million bpd. Stocks were up 245,000 barrels in that week to 24.726 million barrels. Exports were back down 21,000 bpd to 137,000 bpd, with refiner inputs of ethanol up 1,000 bpd to 939,000 bpd.
The next 7 days are looking for 1 to 2 inches across much of eastern NE and the eastern portions of the Dakotas through MN, MO, WI, IA, IL, IN and OH.
Export Sales data will be released on Thursday, with traders looking for 300,000 to 600,000 MT in old crop corn sales. Bookings for 2026/27 are seen at 0.5-1 MMT in the week of 7/23.
A South Korean importer purchased a total of 69,000 MT of corn in a tender overnight.
Sep 26 Corn closed at $4.49, down 9 1/2 cents,
Nearby Cash was $4.19 3/4, down 9 1/2 cents,
Dec 26 Corn closed at $4.71 3/4, down 8 3/4 cents,
Mar 27 Corn closed at $4.87 1/4, down 8 1/2 cents,
New Crop Cash was $4.22 1/2, down 9 1/4 cents,
