Corn futures weakened another 2 3/4 to 4 cents on Tuesday after a large drop to start the week. Dec saw another 10 ¾ cent range on the day and closed near the session low.
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.
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 closed at $4.66 1/2, down 2 3/4 cents,
Nearby Cash was $5.02, down 3 7/8 cents,
Dec 23 Corn closed at $4.79 1/2, down 3 cents,
Mar 24 Corn closed at $4.93 1/2, down 3 1/4 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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