Corn Posting Tuesday Gains

Corn futures are trading with contracts 8 to 9 cents higher at midday on Tuesday. The CmdtyView national average Cash Corn price is up 9 cents at $4.68 1/2.

Monthly Census data showed corn exports during August at 7.422 MMT (292.21.5 mbu), which was a record for the month. That was up 25.71% from July and took the marketing year total to 3.426 bbu. Distillers exports were 1.301 MMT, the second largest August on record. Ethanol exports were a record 211.77 million gallons, up 5.57 % from last year and 6.15% above July.

Monday’s Crop Progress report showed 83% of the US corn crop mature as of October 4, with harvest at 23% complete and 4 percentage points behind the average pace. Condition ratings were down 3% this week at 54% in good to excellent condition, as the Brugler500 index 5 points lower at 342.

Dec 26 Corn is at $5.06 1/4, up 9 cents,

Nearby Cash is at $4.68 1/2, up 9 cents,

Mar 27 Corn is at $5.20 1/4, up 8 3/4 cents,

May 27 Corn is at $5.27 1/4, up 8 3/4 cents,