Corn futures saw a slight recovery, closing 1 to 2 ¼ cents higher. EIA reported a record ethanol production of 1.196 million barrels per day, a week/week increase of 98,000 barrels or 8.92%. Ethanol stocks rose to 24.473 million barrels, with exports up to 119,000 bpd.

South Korean importers purchased 402,000 MT of corn, including 136,000 MT from the US. USDA Export Sales data expected Thursday, with traders eyeing 0.6 to 1.4 MMT of corn sold in the week of January 8. Argentina corn crop estimate raised to 62 MMT by the Rosario Grains Exchange.

Corn prices closed with Mar 26 at $4.22, Nearby Cash at $3.84, May 26 at $4.29 3/4, and Jul 26 at $4.36. On the publication date, Austin Schroeder had no positions in mentioned securities. Source: Barchart.com.

Read more at Yahoo Finance: Corn Gets a Midweek Bounce as Ethanol Output Booms to Record