Corn futures closed with minimal losses after the US/Japan trade deal announcement, with the national average new crop Cash Corn price down 1/2 cent at $3.75. Japan agreed to a trade deal with the US, setting tariffs at 15% starting August 1, expecting to boost rice imports and buy $8 billion in ag goods.

EIA data revealed a decline in ethanol production to 1.078 million barrels per day, down 9,000 bpd from the previous week, with stocks up 809,000 barrels to 24.444 million. Export Sales data is anticipated to show old crop corn sales of 100,000 to 800,000 MT and new crop sales of 400,000 to 800,000 MT.

Corn prices: Sep 25 Corn at $3.98 1/2, Nearby Cash at $3.85 1/2, Dec 25 Corn at $4.17 1/2, Mar 26 Corn at $4.34 3/4, and New Crop Cash at $3.75. Austin Schroeder had no positions in mentioned securities. Information is for informational purposes only.

Read more at Yahoo Finance: Corn Slips Lower on Wednesday