Corn Fades on Tuesday to Close Mixed

Corn futures posted mixed trade on Tuesday, with contracts closing as much as 1 ¾ lower to a penny higher across the board. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $4.35 1/2.

The ProFarmer Crop Tour started on Monday, with South Dakota corn yields averaging 149.09 bushels per acre down 14.41% from the last year and 8.37% below the 3 year average. Ohio yields came in at 180.18 bpa, down 2.97% from a year ago and a 2.25% decline from the three year average. Results for Indiana and Nebraska will be announced later this evening.

The weekly Crop Progress report showed condition ratings down 1% this week at 60% in good to excellent condition, as the Brugler500 index was down 3 points to 353. By state via the Brugler500 index KS (-18), SD (-13), IN (-9), MN (-8), WI (-6), CO (-24), and TX (-11) all saw deteriorating conditions. Improvement was noted in NE (+2), ND (+17), OH (+7), as well as PA, NC, MI and KY.

ANEC estimates the Brazilian corn export total in August at 5.63 MMT, a 0.46 MMT increase from last week’s number.

Sep 26 Corn  closed at $4.63 1/4, down 1 3/4 cents,

Nearby Cash  was $4.35 1/2, down 1 3/4 cents,

Dec 26 Corn  closed at $4.88, down 1 1/2 cents,

Mar 27 Corn  closed at $5.04, down 1 1/4 cents,

New Crop Cash  was $4.38 1/4, down 2 1/4 cents,

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.