Corn, Soybean Futures Fall as Ethanol Demand Concerns Rise
Corn and soybean futures fell in overnight trading due to technical selling and concerns about demand for U.S. supplies, particularly for ethanol production.
Futures jumped yesterday on worries about ongoing attacks on grain shipping and infrastructure by Russia and Ukraine, which could threaten shipments of corn and wheat globally.
The White House asked the EPA to increase small refinery exemptions, allowing them to blend less ethanol into their gasoline. This move is expected to impact demand for corn to make ethanol, with 5.6 billion bushels expected to be used in the 2026-2027 marketing year.