Corn futures are trading with 2 to 3 cent gains on the Wednesday session at midday. There were 81 delivery notices issued overnight for September corn futures. The nearby cmdtyView US cash corn price was up just 5 ½ cents to $3.74 ½ on Tuesday.
Weekly Crop Progress data showed 90% of the US corn crop in the dough stage, with 58% dented, 2% ahead the average pace. The crop was also listed as 19% mature, 6% below the average pace. Condition ratings were unchanged at 65% good/excellent, with the Brugler500 index up 1 point to 364.
July export data from Census showed 5.26 MMT, slightly below the June total and more than double the same month last year.
Tuesday afternoon’s monthly Grain Crushing report showed 473.5 million bushels of corn was used for ethanol production in July. That was a 6.1% increase from last month and 4.01% above the same month last year.
Sep 24 Corn is at $3.89 1/2, up 3 cents,
Nearby Cash is at $3.76 1/1, up 2 1/4 cents,
Dec 24 Corn is at $4.11 3/4, up 2 1/2 cents,
Mar 25 Corn is at $4.30 1/4, up 3 cents,
New Crop Cash is at $3.76 1/1, up 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.