Corn futures closed lower on Wednesday, with contracts down 3 to 5 cents due to pressure from wheat losses. The national average cash corn price was $3.64 1/2, a decrease of 4 1/4 cents. EIA’s weekly report showed ethanol production slipping to 1.07 million barrels per day, with stocks down to 22.549 million barrels.

Analysts estimated a net reduction of 200,000 MT to 150,000 MT in corn sales for the week of 8/21, with new crop business projected to be 1.2 to 2.6 MMT. Taiwan purchased 65,000 MT of corn from the US in a recent tender. Corn prices closed lower, with Sep 25 Corn at $3.82 1/2, Nearby Cash at $3.64 1/2, Dec 25 Corn at $4.06, Mar 26 Corn at $4.23 1/4, and New Crop Cash at $3.62.

Read more at Yahoo Finance: Corn Falls Lower Wednesday