Corn Continues Higher on Slow Planting

Corn futures are trading 3 to 6 1/2 cents higher in the front months on Tuesday, following USDA’s confirmation of record slow planting. The market is trying to talk producers out of taking the Prevent Plant option, though some may not have a choice. In the weekly Crop Progress report, NASS showed corn planting at 49% complete nationwide by Sunday, well below the 80% average, with last year at 78% for this week. NE and IA were shown at 70% planted, MO was 62%, and MN @ 56%, with SD @ 19%. Forecasts show considerable amounts of rain for those area this week. IL is also seen as catching some moisture, with 24% of the crop planted on 5/19, with IN @ 14% and OH 9% planted.

Jul 19 Corn is at $3.94 3/4, up 5 3/4 cents,

Sep 19 Corn is at $4.03 1/4, up 6 1/2 cents,

Dec 19 Corn is at $4.10 1/2, up 6 cents

Mar 20 Corn is at $4.20, up 5 3/4 cents

--provided by Brugler Marketing & Management

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