Corn Rallies Back on Wednesday

Group 1 - Corn futures experienced gains of 8 to 9 cents in the front months, with the CmdtyView national average cash corn price rising by 8 cents to $4.17 ¾ [1] - Crude oil prices increased by $5.44, influenced by ongoing developments in Iran, despite the International Energy Agency's decision to release 400 million barrels of ethanol reserves [1] - EIA data indicated a 31,000 barrel per day increase in ethanol production, reaching 1.126 million barrels per day for the week ending March 6 [2] Group 2 - Ethanol stocks decreased by 757,000 barrels, bringing the total to 25.58 million barrels [2] - Refiner inputs of ethanol rose by 37,000 barrels per day to 901,000 barrels per day, while implied gasoline demand increased by 11.4% to 9.24 million barrels per day [2] - Export sales data is anticipated, with expectations for corn sales ranging from 0.8 to 2.2 million metric tons for old crop and 0 to 150,000 metric tons for new crop [3]