Corn Falls Ahead of US-China Meeting as Traders Take Risk Off

Corn futures fell on Wednesday as traders took some risk off ahead of a meeting between US and Chinese leaders. The national average Cash Corn price dropped by 7.5 cents to $4.84, with most contracts down by 2.75 to 7.75 cents.

The USDA reported a private export sale of 100,000 MT of corn to Mexico earlier in the day. This comes ahead of Thursday's Export Sales data release, which traders expect to show 0.8-1.4 million metric tons (MMT) of 2026/27 corn bookings for the week of September 17.

EIA data from this week showed a seasonal drop in ethanol production, down by 71,000 barrels per day to 1.028 million barrels per day. Ethanol stocks also saw a drawdown of 537,000 barrels to 25.683 million barrels.