Corn futures are trading with 2 to 3 ½ cent gains across most contracts on Tuesday. The CmdtyView national average Cash Corn price is down 2 3/4 cents at $3.62.
Monday afternoon’s weekly Crop Progress report showed the US corn crop at 97% silking, with 72% in the dough stage, both 1% back of normal. The crop was also listed at 27% dented as of Sunday, with 3% mature. Conditions slipped 1 point this week, to 71% gd/ex and 382 on the Brugler500 index.
The annual ProFarmer crop tour started on Monday, with the Ohio crop pegged at 185.69 bpa, up from 183.29 bpa last year and the 180.47 3-year average. USDA is looking for a 19 bpa increase yr/yr. Yield in South Dakota was estimated at 174.18 bpa, which is up 17.67 bpa from last year’s tour total and well 30.05 bpa above the 3-year average. USDA was looking for a 4 bpa increase from last year in last Tuesday’s report.
Brazil’s corn exports are pegged at 8.05 MMT for August according to ANEC, which is up 0.08 MMT from last week’s estimate.
Sep 25 Corn is at $3.80, down 3 cents,
Nearby Cash is at $3.62 1/1, down 2 3/4 cents,
Dec 25 Corn is at $4.03 1/4, down 3 1/4 cents,
Mar 26 Corn is at $4.20 3/4, down 3 1/2 cents,
New Crop Cash is at $3.58 1/4, down 3 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
