It is acceptable to use corn oil instead of vegetable oil when making a cake from scratch or a mix, according to Cook's Illustrated magazine. The corn oil substitution does not affect the flavor or texture of the finished cake.
Commercial vegetable oil is soybean oil that has been refined, lightened and had odors removed. The processing keeps the oil mildly flavored for multiple uses. Commercial corn oil is also refined, lightened and deodorized. Both oils are intended for all-purpose cooking and salad oils. They are interchangeable for sautéing, frying, baking and making salad dressings. Canola oil is another all-purpose oil that can be substituted for vegetable oil.