Red Midday In Corn Market
The corn futures market is trading with 7 3/4 to 9 1/4 cent losses so far for Tuesday. May is still a penny over the $5 mark though March gapped below the round number overnight and has stayed under $5 so far through the day.
Barchart’s updated cmdtyView Corn Yield was lowered 0.46 bpa to 177.9. That is still 4.8 bpa above the USDA, though production remains 124 mbu lighter at 14.987 bbu. At the state level: they trimmed IA 0.8 to 196.5 (USDA @ 203), lifted IL 0.31 to 193.4 bpa (201), left NE at 189 (184), and see MO at 155 (143).
The weekly Crop Progress data from NASS had corn silking at 96%, 65%in the dough stage, and 18% dented as of 8/13. Corn conditions improved from a 349 on the Brugler500 to a 353, via major improvement to MO.
USDA reported 398k MT of corn exports for the week that ended 8/10. Accumulated corn exports were reported at 35.610 MMT or 1.402 bbu.
Sep 23 Corn is at $4.66 3/4, down 9 cents,
Nearby Cash is at $5.07, down 7 3/4 cents,
Dec 23 Corn is at $4.78 1/4, down 9 1/2 cents,
Mar 24 Corn is at $4.92 1/2, down 9 cents,
Source Link: https://www.barchart.com/story/news/19392888/red-midday-in-corn-market
