Corn Futures Trade Mixed Amid USDA Report
Corn futures are trading in a mixed picture on Wednesday, despite some minor gains at midday. According to TradingView, corn futures have risen by 7-8 ¼ cents, while the CmdtyView national average Cash Corn price has dropped by 8 1/4 cents to $4.83 1/4.
The USDA reported a significant private export sale of 100,000 MT of 2026/27 corn to Mexico earlier in the day, which may have influenced market sentiment.
Thursday's release of Export Sales data is expected to show 0.8-1.4 MMT of 2026/27 corn bookings in the week of 9/17, with traders looking for a strong showing.
EIA data from this week revealed that ethanol production fell seasonally by 71,000 bpd to 1.028 million barrels per day, while ethanol stocks saw a drawdown of 537,000 barrels to 25.683 million barrels.