Corn futures closed the Tuesday session with contracts down 5 to 7 cents, as September fell below the $4 mark. The front month CmdtyView national average Cash Corn price was down a nickel at $3.84.
USDA reported a private export sale of 112,776 MT of corn to Mexico this morning, all for new crop shipment.
The Central Corn Belt is expected to receive 1 to 2 inches of rain this week, with the western half of the Plains and parts of the ECB seeing lighter totals.
Crop Progress data showed 18% of the US corn crop was silking by July 6, 3 points ahead of normal, with 3% in the dough stage. Condition ratings were up 1% to 74% good/excellent, with the Brugler500 index improving 3 points to 385. Much of the improvement came in the West, with IA up 2 points, KS 15 points higher, and MO up 1. IL was down 9 points, with OH slipping 4 and NE down 2 points.
Jul 25 Corn closed at $4.11, down 7 cents,
Nearby Cash was $3.84, down 5 cents,
Sep 25 Corn closed at $3.98, down 5 1/2 cents,
Dec 25 Corn closed at $4.14 1/4, down 6 1/2 cents,
New Crop Cash was $3.73 3/8, down 5 1/4 cents,
