Corn Ends with Gains on Tuesday
Corn futures closed out the Tuesday session with contracts up 1 to 2 ½ cents, fighting off some intraday weakness. The front month national Cash Corn price from cmdtyView was up 2 cents at $3.77 ¼ per bu.
USDA’s Crop Progress report showed corn crop ratings up 1% to 65% gd/ex with the Brugler500 index up 1 point to 365. By state, MN was the largest improvement, up 9, with IL up 8 points, NE 3 points higher and MO improving 2 points. Ratings in OH continue to deteriorate, down 21 points, with KS losing 12, SD down 11 IN slipping 7, ND losing 6 points and IA down 2.
Brazil’s 2024/25 corn crop is estimated at 119.8 MMT according to CONAB’s initial estimate. That is below the 127 MMT projection from the USDA.
Dec 24 Corn closed at $4.12 1/2, up 1 3/4 cents,
Nearby Cash was $3.77 1/4, up 2 cents,
Mar 25 Corn closed at $4.30 3/4, up 1 1/2 cents,
May 25 Corn closed at $4.41 1/4, up 1 cent,
New Crop Cash was $3.77 1/4, up 2 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. For more information please view the Barchart Disclosure Policy here.