Corn futures closed with gains of 1 to 2 cents, with the national average Cash Corn price at $3.75 1/4. Ethanol production was at 1.075 million barrels per day, while stocks rose to 22.564 million barrels. Export Sales data expected to show old crop net reductions of 400,000 MT to 100,000 MT and new crop business of 0.9 to 2.2 MMT.

Census trade data revealed 6.224 MMT of corn shipped in July, the second highest for that month. Distiller exports were up in July, with ethanol exports hitting 164.38 million gallons. US corn yield estimate at 186.9 bpa, with production at 16.577 bbu. Brazilian corn exports in August totaled 6.846 MMT, nearly triple July’s total.

Corn prices closed higher, with Sep 25 Corn at $3.99 3/4 and Dec 25 Corn at $4.19 3/4, both up. StoneX estimates US corn yield at 186.9 bpa, a drop from August’s estimate. Brazilian corn exports in August totaled 6.846 MMT, nearly triple July’s total. Ethanol exports remain strong, reaching 164.38 million gallons.

Read more at Yahoo Finance: Corn Bulls Rally Back to Close Higher