Corn futures ended the Tuesday session with contracts down 6 to 7 cents. New crop December was down 6 ½ cents, as they struggle to not bid up for too many acres with present new crop soybean/corn ratio at 2.24. The entrance month CmdtyView nationwide common Money Corn worth was down 6 cents at $4.48 1/2.
Crop Progress information from Monday afternoon confirmed planting progress in IL, IN, KY, NC, TN and WI have been all reported beneath the 5-year common tempo. IA planting was 18% full (7% on common), with NE at 8% (vs. 5%), because the nationwide degree was nonetheless 2 share factors forward of regular. Emergence was pegged at 2%, consistent with regular.
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Whereas planting is forward of schedule, rains from the previous few days, and a moist forecast for the subsequent week from the Plains to the Mississippi River might gradual a few of that this week.
Rising situations in Brazil have improved lately. Dr Michael Cordonnier elevated his projection for the Brazilian corn quantity by 3 MMT to 125 MMT. Anticipated Argentina output was additionally raised by 2 MMT to 48 MMT,
Could 25 Corn closed at $4.75 3/4, down 6 cents,
Close by Money was $4.48 1/2, down 6 cents,
Jul 25 Corn closed at $4.83 1/4, down 6 3/4 cents,
Dec 25 Corn closed at $4.58, down 6 1/2 cents,
New Crop Money was $4.22 1/8, down 6 3/4 cents,
On the date of publication,
Austin Schroeder
didn’t have (both immediately or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions. For extra info please view the Barchart Disclosure Coverage
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