The June corn market is kicking off with AM quotes 7 to 9 3/4 cents in the black and near their overnight highs. Corn prices were mostly lower on Wednesday, although July rallied back from 16 1/2 cent losses to end UNCH on the day. The new crop contracts also firmed up for the close, but were still 3 1/4 to 3 3/4 cents lower. Old crop’s July contract had a 59 3/4 cent range during the month of May, ending with a 9c gain. The July contract is now at a 77 3/4 cent premium to Sep, vs. 56 cents at the start of the month. December closed at a 6c loss for the month.Â
EIA’s weekly ethanol production data will be released later this morning. USDA will release the monthly Grain Crush report for April this afternoon. The weekly USDA Export Sales report will be delayed until Friday because of the Monday holiday.Â
Final planting dates for full insurance coverage are beginning to pass. Producers can plant after those dates but lose some insurance coverage for each day they are late.Â
Jul 23 Corn  closed at $5.94, unch, currently up 7 1/4 cents
Nearby Cash  was $6.28 1/4, up 1 1/4 cents,
Sep 23 Corn  closed at $5.16 1/4, down 3 3/4 cents, currently up 9 1/2 cents
Dec 23 Corn  closed at $5.21 3/4, down 3 1/2 cents, currently up 9 3/4 cents
On the date of publication, Alan Brugler 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.
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