Corn Eases Lower on Tuesday

Corn futures fell back on Tuesday with contracts down 1 to 3 ¼ cents across most nearbys. The CmdtyView national average Cash Corn price was down 2 cents at $3.69 3/4.

USDA’s Crop Progress report showed condition ratings steady at 71% good/excellent, as the Brugler500 index was down 1 point to 381 on a 1% move from excellent to good. Ratings in IL were down 7 points, with IA slipping 4, as well as ND. Improvement was noted in MI (+12), with MO, MN, and NE up 2 point, and OH 14 points higher.

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Brazil’s August exports are estimated to total 7.8 MMT according to ANEC, which was a drop of 0.25 MMT from their previous estimate.

Sep 25 Corn  closed at $3.87 1/2, down 1 3/4 cents,

Nearby Cash  was $3.69 3/4, down 2 cents,

Dec 25 Corn  closed at $4.09 1/2, down 2 3/4 cents,

Mar 26 Corn  closed at $4.26 1/2, down 3 1/4 cents,

New Crop Cash  was $3.67, down 1 3/4 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

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