Corn (P) Futures PricesMonday, May 20th, 2013
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Latest Brugler Corn (P) Report
Corn futures closed 3.25 lower in the July contract and were 3/4 of a cent higher for December. Tonight’s weekly planting progress report from USDA showed 71% of the national crop has been planted compared to the 5yr average of 79%. OH, IN, IL, IA, & MN all came in short of 75% done, but Nebraska was reported to be 84% planted. North Dakota is at 61%, up from 18% last week. The corn crop is now estimated to be 19% emerged vs. the 5yr average of 46%. This morning’s USDA Export Inspections report showed 14.6 million bushels last week, up from 12.7 million the week before but of course lagging the 26.8 million shipped during the same week in 2012. Chinese sources are indicating that planting in Heilongjiang is now running ahead of year ago, with 6.73 million HA planted as of May 17.
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