Corn futures closed higher on Wednesday, with the national average cash corn price at $3.96 1/4. USDA reported a private export sale of 130,480 MT of corn. EIA data showed ethanol production at 956,000 bpd, with stocks down to 25.136 million barrels. A South Korean importer bought 65,000 MT of corn.

Mar 26 Corn closed at $4.29 1/2, Nearby Cash at $3.96 1/4, May 26 Corn at $4.37, and Jul 26 Corn at $4.43 1/4. Trading for between 0.8-2.1 MMT of corn is expected in weekly data. Ethanol exports were up to 216,000 bpd.

The rally in soybeans provided some support for corn prices. Refiner inputs of ethanol dropped to 791,000 bpd. A South Korean importer purchased 65,000 MT of corn in a private tender. Weekly data on corn sales will be released on Thursday.

Read more at Yahoo Finance: Corn Hold onto Wednesday Gain