Corn Leads Midweek Grain Rally as Export Deals and Ethanol Data Support Prices

Overview

• Corn futures rose 4¾ to 8¼ cents on Wednesday, with the U.S. average cash price up 8½ cents to $4.14¾, in the strongest move across the grain complex.
• USDA reported on Tuesday private corn sales totaling 436,000 metric tons, including 316,000 tons to Mexico across several future delivery years and 120,000 tons to unknown buyers for this year, signaling firm near-term demand.
• EIA data released Wednesday showed U.S. ethanol plants produced 1.12 million barrels per day, slightly above last week, while inventories built to 26.699 million barrels, reinforcing a steady pull on corn from fuel producers.
• Soybeans added 9 to 11 cents Wednesday as soybean meal strengthened and industry group NOPA reported a record March crush of 226.16 million bushels, a sign that processors kept plants running hard.
• Brazil’s farm agency CONAB raised its 2025/26 harvest outlook to 139.57 million metric tons for corn and 179.15 million for soybeans on Tuesday, adding global supply heft even as U.S. planting just gets going at 5% for corn and 6% for soy.