Corn Pit Sep '12 (CU12)
Corn (Pit) Futures Market News and Commentary
Corn prices are up 3 to 5 cents so far on Wednesday morning. Futures fell back off midday gains on Tuesday, with contracts steady to 1 ½ cents lower, with a ¾ cent gain in front month July. Open interest was up 17,705 contracts on Tuesday, with the roll out of July continuing, down 30,247 contracts and September up 34,228. The CmdtyView national average Cash Corn price was up 1 1/2 cents at $3.86 1/4.Â
USDA reported a private export sale of 120,000 MT of old crop corn to unknown destinations on Tuesday morning.Â
NASS Crop Progress data from Monday showed 97% of the US corn crop planted by June 7, with emergence at 86%, near the 5-year average. US condition ratings were 67% in good to excellent condition, steady with the previous week. The Brugler500 index was up 1 point on higher excellent ratings to 372. Conditions dropped in TX by 11 points and IN by 10. Improvement was noted in IA (+2), NE (+4), and IL (+5).
USDA will release their monthly WASDE report on Thursd... Read more
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