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Corn (P) Futures PricesTuesday, Jun 18th, 2013Current Prices | End-of-Day Prices | Options Quotes | Spread Quotes | Profile
Corn futures shook off some Turnaround Tuesday profit taking and closed double digits higher in all contracts except for July. July had been the bull leader the day before and was held back by spread realignment. The market settled at a one month high, due to strong basis bids and less than expected improvement in new crop condition ratings from USDA. Gulf corn basis was reported at a record high for the month of June at $1.25 over the July futures. This is despite a fairly limited export program. Strong ethanol demand is supporting basis levels in the interior Midwest which results in stiff competition for the ports.
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