Corn Pulled Lower on Tuesday
Corn futures are down 5 to 6 ¼ cents so far on Tuesday. The national average Cash Corn price from cmdtyView is down 6 1/2 cents at $3.87 per bu.
Census trade data showed a total of 5.156 MMT (203 mbu) of corn shipped during August. That was down 1.97% from last month, nearly double the 2023 total, and a 7-week high. That took the full marketing year total to 2.289 bbu. Ethanol exports for August were a monthly record 141.2 million gallons.
Monday afternoon’s Crop Progress report showed that 87% of the US corn crop was mature by October 6, with harvest running 3 percentage points ahead of normal at 30%. Condition ratings remained at 64% gd/ex, with 1% falling from fair to very poor, which dropped the Brugler500 index rating by 2 points to 361.
Dec 24 Corn is at $4.19 3/4, down 6 1/4 cents,
Nearby Cash is at $3.87, down 6 1/2 cents,
Mar 25 Corn is at $4.37, down 5 3/4 cents,
May 25 Corn is at $4.46 1/2, down 5 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.