
Initial gains this morning have been washed away as midday action shapes the day into a turnaround Tuesday. Corn futures are down a nickel to 6 cents per bushel.
Barchart’s updated corn output forecast calls for 15.357 bbu. That compares to their prior estimate of 15.351 bbu and USDA’s official October 15 bbu figure. Their new national cmdtyView Corn Yield is estimated at 182.8 bpa, while their prior guess was for 182.3. USDA’s official estimate from the October WASDE was 176.5 bpa.
NASS Crop Progress data suggests corn harvest was 74% complete as pf 10/31. Harvest in IA was 70% complete compared to their 61% average, and Nebraska was 72% finished compared to 63%.
Brazil’s AgRural cited first crop corn planting in the Center-South Districts at 63% complete, compared to 53% last week and 54% at this point last season.
Dec 21 Corn is at $5.73, down 6 cents,
Nearby Cash is at $5.55 1/1, down 5 1/2 cents,
Mar 22 Corn is at $5.81 1/2, down 5 1/2 cents,
May 22 Corn is at $5.85 1/4, down 5 1/4 cents,