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Corn futures are trading two to three cents lower at midday. The ethanol industry is using about 99 million bushels of corn per week, and enjoying solid margins. There is some concern about rising ethanol stocks (18.8 million barrels last week). Trade estimates for US corn export sales last week were in the 450,000 to 800,000 MT range.The USDA update at 7:30 am CDT put the actual figure in the middle of the range at 659,700 MT. Weather forecasts continue to be benign through the end of the month. Private analyst Strategie Grains raised projected EU corn production to 71.3 MMT, 3.3 MMT above USDA.