CBOT corn futures recover on technical bounce

CHICAGO, Jan 14 (Reuters) - Chicago Board of Trade corn futures ticked higher on a technical bounce on Wednesday following sharp losses in previous days following a bearish set of U.S. Department of Agriculture reports.

• The USDA on Monday raised its U.S. corn production estimate to a record 17.021 billion bushels and said December 1 corn stocks hit an all-time high. Both topped the average estimate in a Reuters poll of analysts.

• The numbers came as a shock to the market, analysts said.

• The U.S. Energy Information Administration said weekly production of corn-based ethanol rose in the latest week to a record-high 1.196 million barrels per day (one could chart this using ric ET-OUT-T-EIA) while ethanol stockpiles (ric ET-STK-T-EIA) rose to 24.473 million barrels, the most since July. EIA/S

• Exporters sold 136,000 metric tons of U.S. corn to South Korea for 2025/26 delivery, the USDA confirmed in its daily

• CBOT March corn CH26 settled up 2-1/4 cents to $4.22 per bushel.