“Corn futures are trading slightly lower to start the day and may be backing off after large gains the past 2 days,” Total Farm Marketing said. “September corn is down 1-1/4 cents to $4.42 while December is down 1-1/2 cents to $4.62-1/2… The weekly EIA’s ethanol production report for the week ending July 3 is expected to show between 1.08 and 1.13 mln barrels, which would be steady with 1.11 mln last week. Ethanol stocks are expected to be within 24.6 and 24.8 mln, which would also be steady with last week.”