Corn Prices Dip Ahead of US-China Meeting
Corn prices dropped on Thursday morning, with futures trading down by 2¾ to 7¾ cents across most contracts. This follows a decline of 1-2 cents earlier in the day.
The CmdtyView national average Cash Corn price was down 7½ cents at $4.84. Traders were reportedly taking some risk off ahead of the meeting between US and Chinese leaders on Thursday.
The USDA reported a private export sale of 100,000 MT of 2026/27 corn to Mexico on Wednesday morning. Export Sales data will be out on Thursday, with traders looking for 0.8-1.4 MMT of 2026/27 corn bookings in the week of September 17.
EIA data from this week showed ethanol production in the week of September 18 at 1.028 million barrels per day, dropping seasonally by 71,000 bpd on the week. Ethanol stocks saw a drawdown of 537,000 barrels to 25.683 million barrels.