Corn Futures Rebound from Session Lows as Traders Await Export Sales Data

Corn futures managed to bounce off session lows as trading closed on Wednesday. Despite losses of 1 ½ to 2 ¼ cents across the board, contracts showed some late-session strength. The national average Cash Corn price was down 1 ½ cents at $4.89.

The latest data from the Energy Information Administration (EIA) revealed that ethanol production remained steady at 1.099 million barrels per day in the week of September 4. This is a 4.17% increase compared to the same week last year. Ethanol stocks saw a 33,000 barrel increase to 25.22 million barrels, which is 11.58% above the same week last year.

Refiner inputs of ethanol were up 3,000 barrels per day to 911,000 barrels per day, while exports rose by 14,000 barrels per day to 161,000 bpd. The market is awaiting Thursday's Export Sales data, which is expected to show 0.7 to 2 MMT in 2026/27 corn sales for the week of September 10.

Statistics Canada released its initial production data, showing an 11.3% increase in corn output at 16.55 million metric tons compared to last year.