Corn Falls into the Close
Corn futures closed out the Tuesday session with contracts down anywhere from ¾ to 5 ¼ cents across the board. The national average Cash Corn price from cmdtyView was down 5 1/2 cents at $3.88 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 the US corn harvest was running 3 percentage points ahead of normal at 30%. Just CO, MN, NC, PA, and the Dakotas were reported behind schedule. 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. By state, MN and OH were up 1 points, with ND (+8) and SD (+7) both seeing an improvement. NE ratings were down 3 points, with MI down 16 and WI 10 points lower.
Dec 24 Corn closed at $4.20 3/4, down 5 1/4 cents,
Nearby Cash was $3.88, down 5 1/2 cents,
Mar 25 Corn closed at $4.38 1/4, down 4 1/2 cents,
May 25 Corn closed at $4.47 1/2, down 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. For more information please view the Barchart Disclosure Policy here.