The Tuesday corn market faded its initial strength, but held onto front month gains of a penny to 2 1/4 cents. That left the December contract $5.01 1/2 going home as the $5 mark proved again to be a hotly contested battle ground.Â
The weekly Crop Progress report from NASS showed 22% of the crop was silking as of 7/9. That was up from 8% last week and is 1 ppt ahead of the 5-yr average. The report also showed 3% of the crop reached the dough stage, up 1% point from the average. NASS showed conditions were 7 points higher on the Brugler500 scale for a 347. Nebraska, NC, SD, and KS saw the most drastic improvements, while CO and PA slipped from last week’s ratings.Â
Brazil’s 2nd crop was noted at 27% harvested, from 41% on average.Â
Sep 23 Corn  closed at $4.94 1/2, up 2 1/4 cents,
Nearby Cash  was $5.38 1/1, up 3 3/8 cents,
Dec 23 Corn  closed at $5.01 1/2, up 2 cents,
Mar 24 Corn  closed at $5.12 3/4, up 1 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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