Corn prices are back to higher trade to open up the Wednesday morning session with gains of 1 to 2 ½ cents. On Tuesday corn contracts were fractionally to 2 ½ cents in the red. Rains over the next couple days are limited to the WCB, with the ECB precip expected over the weekend.
USDA reported a couple private export sale announcements on Tuesday morning, with 113,050 MT split evenly between old and new crop shipment to Mexico and 110,000 MT of 23/24 corn to Spain.
The Monday afternoon Crop Progress report indicated variable state planting results. IL was 4% points behind normal, with IN and NE 3% back of the average and IA lagging behind by 8%. MN was ahead of the average pace by 7% points, with the Dakotas putting in work over that week (SD +7% vs. ave and ND +15%).
Jul 24 Corn closed at $4.58, down 2 1/2 cents, currently up 2 cents
Nearby Cash was $4.34 3/8, down 2 3/8 cents,
Sep 24 Corn closed at $4.68 1/2, down 2 1/2 cents, currently up 1 ¾ cents
Dec 24 Corn closed at $4.82 1/4, down 2 cents, currently up 1 ¾ cents
New Crop Cash was $4.44, down 2 1/4 cents,
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