Corn Slipping Lower on Tuesday
Corn futures are showing fractional to penny losses across most contracts on Tuesday. The CmdtyView national average Cash Corn price at $3.78 1/2.
USDA’s Crop Progress report was not published due to the government shutdown. The trade was looking for corn harvest to near 29% complete as of Sunday, with conditions seen near 65% good/excellent (down 1% from last week).
Despite the government shutdown likely suspending the Thursday Crop Production report, a Reuters survey shows analysts estimating yield at 185 bpa, down 1.7 bpa from September.
Brazilian corn exports in September totaled 7.56 MMT according to the country’s trade data That was a 10.43% increase from August and 17.77% larger than last year.
Dec 25 Corn is at $4.21 1/4, down 1/2 cent,
Nearby Cash is at $3.78 1/2, up 2 1/2 cents,
Mar 26 Corn is at $4.37 1/2, down 3/4 cent,
May 26 Corn is at $4.46 1/4, down 1 cent,
On the date of publication, Austin Schroeder 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.