Corn futures posted losses of 2 to 3 cents across most contracts on Wednesday. Crude oil was flat most of the day, failing to provide some spillover support. The CmdtyView national average Cash Corn price was down 3 1/2 cents to $4.02 1/4.
USDA reported another private export sale of 125,000 MT of corn to unknown destinations this morning. Export Sales data for the week of February 26 will be released on Thursday, with analysts looking for old crop corn sales at 0.6-1.6 MMT. New crop business is estimated to total 0-100,000 MT according to a Reuters survey, though we did get a private export sale of 154,000 MT of 2026/27 corn to Japan last Thursday.
EIA reported ethanol production at 1.095 million barrels per day in the week ending on February 27, down 18,000 bpd during that week. Stocks of ethanol were up 691,000 barrels to 26.337 million barrels. Exports were up 76,000 bpd in that week to 217,000 bpd, with refiner inputs down 2,000 bpd to 864,000 bpd.
Mar 26 Corn closed at $4.31 3/4, down 2 1/2 cents,
Nearby Cash was $4.02 1/4, down 3 1/2 cents,
May 26 Corn closed at $4.43 3/4, down 2 3/4 cents,
Jul 26 Corn closed at $4.53 1/2, down 2 cents,
