Corn Closes Higher, NASS Shows 49% Planted

Corn futures saw 2 to 6 1/2 cents gains on Monday, posting multi-month highs in several contracts. Rains over the weekend and forecasts for more in the WCB over the next week were supportive. In the weekly Crop Progress report, NASS showed corn planting at 49% complete nationwide by Sunday, on the lower side of estimates and the slowest for week 20 since NASS started recording. That was well below the 80% average, with last year at 78% for this week. The crop was 19% emerged, with the 5-year average at 49%. All corn export shipments in the week of May 16 totaled just 820,916 MT. That was down 28% from last week and 47% below the same week last year. Exports YTD are now 3.09% larger than a year ago, at 37.454 MMT (1.474 bbu).

Jul 19 Corn closed at $3.89, up 5 3/4 cents,

Sep 19 Corn closed at $3.96 3/4, up 6 1/4 cents,

Dec 19 Corn closed at $4.04 1/2, up 6 1/4 cents

Mar 20 Corn closed at $4.14 1/4, up 6 1/2 cents

--provided by Brugler Marketing & Management




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