Corn futures are fading back the Tuesday rally, with contracts down 6 to 7 cents across the front months at Wednesday’s midday. The CmdtyView national average Cash Corn price is down 6 1/2 cents at $4.62 1/4.
EIA data from this morning showed ethanol production in the week of October 1 at 1.053 million barrels per day, back up 46,000 bpd on the week. Ethanol stocks saw another seasonal drawdown of 122,000 barrels to 23.743 million barrels.
