Corn futures are back to 4 3/4 to 6 cents in the red at midday. Overnight action initially worked the board lower before an attempted turnaround. Futures had already printed an 8 cent range prior to the day session. December is holding above the $5 mark so far, a level not breeched since early July. December futures gained a net 17 ¼ cents over the month of July.  The trading range for the month was $1.905!Â
Barchart raised their cmdtyView Corn Yield by 4/10ths to 178.4 bpa. That lifted their production forecast by 33 mbu to 15.026 billion.
USDA’s weekly Crop Progress report had 84% of the crop silking at the national level, compared to 68% last week and 82% on average. NASS also had 29% in the dough stage as of Sunday, matching the average pace. Crop conditions were 55% good/ex, dropping the Brugler500 score to 345.Â
Analyst expectations for June’s corn grind for ethanol average 444.2 mbu.Â
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Sep 23 Corn  is at $4.98 1/2, down 5 1/2 cents,
Nearby Cash  is at $5.39 1/1, down 6 1/8 cents,
Dec 23 Corn  is at $5.07 3/4, down 5 1/4 cents,
Mar 24 Corn  is at $5.20, down 5 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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