Corn Continues Higher on Planting Delays

Corn futures ended the Tuesday session with most contracts 3 to 6 cents higher as rains continue to slow planting. The front month chart hit its highest price since May 2018 today, as new crop Dec was at the highest levels since last August. The market is trying to talk producers out of taking the Prevent Plant insurance option, though some may not have a choice. In the weekly Crop Progress report, NE and IA were 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 closed at $3.94 1/4, up 5 1/4 cents,

Sep 19 Corn closed at $4.02 3/4, up 6 cents,

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

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

--provided by Brugler Marketing & Management




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