Corn futures closed lower on Wednesday, with losses of 2 to 3 cents. The national average cash corn price dropped to $3.82 ¼. The weekly EIA report showed ethanol production down 50,000 bpd to 1.055 million bpd, an increase of 6,000 bps from last year. USDA estimates 0.5 to 1.9 MMT in corn sales for the week ending on 9/11.

A South Korean importer bought 65,000 MT of corn. Stats Canada data showed 15.5 MMT of corn production this year, up 1% from last year. Dec 25 Corn closed at $4.26 3/4, Nearby Cash at $3.82 1/4, Mar 26 Corn at $4.44 1/2, and May 26 Corn at $4.54 1/4. Austin Schroeder did not have positions in mentioned securities.

Read more at Yahoo Finance.: Corn Slips Lower into Wednesday’s Close