Corn futures ended the Tuesday session with contracts showing fractional to a penny lower. A couple deferred contracts out to the ’25 crop were steady to a penny higher.
EIA data will be released on Wednesday morning, with most expecting to see ethanol production holding above last week’s 1.068 million barrels per day.
Crop Progress data from Monday afternoon showed initial NASS crop ratings at 75% gd/ex for corn. That is a 385 on the Brugler500 index, the best start to the year since the 391 in 2018. Compared to the same week last year, just CO, KY, TN, TX, and WI were seen to have worse ratings. NOAA’s 7-day QPF shows spotty precip totals for much of the Corn Belt.
Jul 24 Corn closed at $4.42 1/2, down 1 cent,
Nearby Cash was $4.24, up 1/2 cent,
Sep 24 Corn closed at $4.48 1/4, down 1 cent,
Dec 24 Corn closed at $4.62, down 3/4 cent,
New Crop Cash was $4.25 3/8, up 1/4 cent,
On the date of publication, Alan Brugler 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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
