Corn futures are retracing some of Tuesday’s gains, with contracts down 6 to 7 cents across the front months as of midday Wednesday. The CmdtyView national average cash corn price has dropped 6 1/2 cents to $4.62 1/4. Ethanol production showed a slight rebound in the week of October 1, rising by 46,000 barrels per day to 1.053 million barrels per day. Ethanol stocks, however, continued their seasonal decline, falling by 122,000 barrels to 23.743 million barrels.
The U.S. Department of Agriculture (USDA) is set to release export sales data on Thursday, with analysts expecting between 0.6 and 1.7 million metric tons (MMT) of corn sold in the week ending October 1. Meanwhile, Brazil’s corn exports in September totaled 5.21 MMT, marking an 11.96% increase from August but a 31.09% decline compared to the same month last year. Additionally, a South Korean importer has issued a tender for 207,000 metric tons of corn, with a deadline for today.
Looking at specific contracts, December 2026 corn is trading at $5.01 1/4, down 6 3/4 cents, while nearby cash corn is at $4.62 1/4, also down 6 3/4 cents. March 2027 corn is priced at $5.16, down 6 1/4 cents, and May 2027 corn is at $5.23 1/2, down 5 1/2 cents.