Corn Rebounds Midweek as Ethanol Production Surges to All-Time High

Corn Futures Edge Higher Midweek

On Wednesday, corn futures experienced modest gains, closing up between 1 and 2 1/4 cents. A strong ethanol production report from the EIA provided support for the market. The CmdtyView national average cash corn price increased by 2 1/2 cents, reaching $3.85.

According to the latest EIA data, ethanol output surged by 98,000 barrels per day compared to the previous week, marking an 8.92% jump to a new all-time high of 1.196 million barrels per day—surpassing the previous record by 5.75%. Ethanol inventories also rose by 821,000 barrels to 24.473 million barrels, with the largest builds occurring in the Gulf region (up 423,000 barrels) and the East Coast (up 616,000 barrels), possibly in preparation for increased exports. Ethanol exports climbed by 6,000 barrels per day to 119,000 barrels per day, while refiner demand for ethanol rose by 70,000 barrels per day to 841,000 barrels per day.

Overnight, several importers in South Korea completed tenders, acquiring a combined 402,000 metric tons of corn. The USDA confirmed that 136,000 metric tons of this total were sourced from the United States through a private export sale.

Looking ahead, the USDA will release its weekly Export Sales report on Thursday morning. Market participants anticipate corn sales for the week ending January 8 to range between 0.6 and 1.4 million metric tons.

The Rosario Grains Exchange has revised its estimate for Argentina's corn harvest, now projecting a crop of 62 million metric tons—an increase of 1 million metric tons from their previous forecast.

Recent Corn Market Closings

• March 2026 Corn settled at $4.22, up 2 1/4 cents
• Nearby Cash price was $3.84, up 2 1/2 cents
• May 2026 Corn ended at $4.29 3/4, up 2 cents
• July 2026 Corn finished at $4.36, up 1 1/2 cents