Corn futures are trading with 5 to 8 cent losses so far on Tuesday. There were 35 deliveries issued against May corn overnight. The CmdtyView national average Cash Corn price is 5 1/2 cents lower on the day to $4.37 1/2.
NASS Crop Progress data showed the US corn crop at 38% planted as of Sunday, which was 4% ahead of the 5-year average pace of 34% and is now matching the pace from last year. The crop was also 3% emerged, which is 4 percentage points faster than normal.
Much of the northern Plains stretching over to parts of IA and WI are expected to remain dry in the next week, allowing for planting progress to continue. Much of the country from MO stretching through the ECB to the East Coast and south is looking at 1 to 3 inches.
Monthly export data from Census showed a total of 8.03 MMT (316.2 mbu) of corn exported in March, the second largest on record for the month and 18.61% above February. Distillers exports were up 11.84% vs. a year ago at 1.029 MMT. Ethanol shipments were 217.77 million gallons, the second largest on record.
May 26 Corn is at $4.65 3/4, down 8 cents,
Nearby Cash is at $4.37 1/2, down 6 1/2 cents,
Jul 26 Corn is at $4.79 1/2, down 6 1/4 cents,
Dec 26 Corn is at $4.99 1/2, down 5 cents,
New Crop Cash is at $4.56 1/1, down 5 1/4 cents,
