Corn futures are trading lower Thursday morning, giving back 3 to 4 cents after Wednesday's sharp rally. The USDA's Crop Production report raised planted acreage by 1.4 million acres to 96.7 million and pegged yield at 180.7 bushels per acre, resulting in production of 16.013 billion bushels, nearly 80 million above estimates. WASDE data showed 2025/26 ending stocks down 75 million bushels from last month on higher exports, while new crop stocks were pegged at 1.653 billion bushels. Brazil's 2025/26 production was raised 2 million tonnes to 140 million, and CONAB lifted its estimate to 142.96 million tonnes. Ethanol production rose 10,000 barrels per day to 1.117 million barrels per day in the week of August 7, with stocks up 274,000 barrels to 24.798 million barrels.
