Corn futures faded back some of the Tuesday rally, posting Wednesday losses of 2 to 6 cents across most contracts. The CmdtyView national average Cash Corn price was down 6 cents at $4.63 1/4.

EIA data from this morning showed ethanol production in the week of October 1 at 1.053 million barrels per day, back up 46,000 bpd on the week. Ethanol stocks saw another seasonal drawdown of 122,000 barrels to 23.743 million barrels.

USDA will release Export Sales data on Thursday, with analysts surveyed by Reuters looking for between 0.6 and 1.7 MMT of corn sold in the week ending on October 1.

Crop Production data will be updated on Friday, with traders surveyed by Bloomberg looking for yield to be trimmed be 0.7 bpa to 177.8 bpa, as production is seen 67 mbu lower at 15.733 bbu.

A South Korean importer tendered for 207,000 MT of corn, with a deadline for today.

Dec 26 Corn  closed at $5.02, down 6 cents,

Nearby Cash  was $4.63 1/4, down 6 cents,

Mar 27 Corn  closed at $5.17, down 5 1/4 cents,

May 27 Corn  closed at $5.24 1/4, down 4 3/4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.