Commodities
Corn Prices Slide on Private Export Sales and Ethanol Shifts
Corn prices continue to slide on Wednesday's midday, with futures down 5 to 6 cents. The national average Cash Corn price has dropped by 5 cents to $4.07 1/2, according to CmdtyView data.
The USDA reported a private export sale of 120,000 MT of corn to Mexico on Wednesday morning, with 30,000 MT allocated for the 2026/27 crop year and 90,000 MT for 2027/28. This news may have contributed to the decline in prices.
The weekly EIA data showed a decrease in ethanol production, down 26,000 bpd from the previous week, with stocks drawing by 202,000 barrels to 24.524 million barrels. Ethanol exports also increased by 63,000 bpd, but refiner stocks dropped by 3,000 bpd.