Front month corn prices are trading near their lows for the day on 5 ¾ to 6 ½ cent losses. December has seen another double digit ranged session so far.
USDA announced some forward sales to Mexico this morning, with private exporters having sold 224k MT – half for 24/25 delivery and the other half for 25/26.
Day 1 of the ProFarmer Crop Tour showed the Ohio corn yield pegged at 183.9 bpa, 4.7% above the 3-year average. For South Dakota, scouts had an average of 157.4 bpa. 5.2% above the 3-year average for the tour.
The weekly NASS Crop Progress report had 78% of the corn crop in the dough stage, 35% of corn in the dent stage, and 4% mature. The weekly condition ratings shifted 1% point each from Fair and Good to Poor and Very Poor. On net that pulled the Brugler500 score down 4 points to 349.
AgRural reported Brazil’s 1st crop corn planting at 4.6% complete as of 8/17. That is up from 1.8% at the same time last year.
Sep 23 Corn is at $4.62 1/2, down 6 3/4 cents,
Nearby Cash is at $4.99 1/8, down 6 3/4 cents,
Dec 23 Corn is at $4.75 3/4, down 6 3/4 cents,
Mar 24 Corn is at $4.90, down 6 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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