Corn futures retreated on Wednesday, slipping 2 to 9.5 cents per contract, with the nearby contracts leading the decline. The CmdtyView national average cash price fell 9.5 cents to $4.1975.
The EIA’s Weekly Petroleum Status Report indicated ethanol production increased by 39,000 barrels per day during the week ending July 24, reaching 1.133 million bpd, the second‑largest weekly total on record. Ethanol inventories rose by 245,000 barrels to 24.726 million barrels, while exports slipped 21,000 bpd to 137,000 bpd. Refinery inputs of ethanol edged up 1,000 bpd to 939,000 bpd.
Forecasts for the upcoming week call for 1 to 2 inches of precipitation across much of eastern Nebraska and the eastern portions of the Dakotas, extending into Minnesota, Missouri, Wisconsin, Iowa, Illinois, Indiana, and Ohio.
Export sales data are scheduled for release on Thursday, with analysts anticipating old‑crop corn sales of 300,000 to 600,000 metric tons. New‑crop bookings for the 2026/27 marketing year are projected at 0.5 to 1 million metric tons for the week of July 23.
A South Korean importer purchased 69,000 metric tons of corn in an overnight tender.
Sep 26 Corn futures settled at $4.49, slipping 9.5 cents.
Nearby cash price was $4.1975, down 9.5 cents.
Dec 26 Corn futures settled at $4.7175, slipping 8.75 cents.
Mar 27 Corn futures settled at $4.8725, slipping 8.5 cents.
New‑crop cash price was $4.225, down 9.25 cents.
