Corn Trading with Wednesday Losses
Corn futures are trading with 4 to 5 ¾ cents across most contracts at Wednesday’s midday. The CmdtyView national average Cash Corn price is down 5 cents at $3.74 3/4.
The monthly NASS Grain Crushing report showed 455.82 million bushels of corn used in ethanol production during July. That was a 2% increase from June but down 5.8% from last year. The full marketing year shipments in the first 11 months of the MY are at 4.978 bbu, 20 mbu below the same period last year. Weekly ethanol data will be released on Thursday due to the Monday holiday.
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Crop Progress data showed 90% of the US corn crop in the dough stage as of August 31, 1 point behind the 5-year average. The crop was also 58% dented, with 15% listed as mature. Conditions were down 2 points to 69% gd/ex, with the Brugler500 index (factoring in all 5 USDA categories) falling 5 points to 376, the lowest since the first week of June.
Sep 25 Corn is at $3.97 1/4, down 5 3/4 cents,
Nearby Cash is at $3.74 3/4, down 5 cents,
Dec 25 Corn is at $4.18, down 5 cents,
Mar 26 Corn is at $4.36, down 4 3/4 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.
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