Corn is trading 2 to 3 cents per bushel lower this morning. On Tuesday, afternoon trading faded early session gains and futures closed fractionally lower. Dec futures traded with a 7 1/2 cent range. January corn futures on the Dalian Grains Exchange set a new contract high yesterday up 21 yuan/MT to 2,496 (~ $9.27/bu). DDGS prices in China were quoted at 2,160 yuan/MT fresh out of the plant, with most sales 2,200-2,400 yuan/MT (~ $325-354/MT). EIA ethanol production data will be published later this morning. Ethanol futures closed the Tuesday session at $1.325/gal. Brazilian FOB prices continue to be 15-20 cents per bushel above US offerings in spite of their weak currency. Those multi-year high prices are also giving producers to expand plantings.

--- provided by Brugler Marketing & Management