Corn futures closed with Wednesday losses of 4 to 5 1/4 cents across most contracts, as bulls struggled to follow through with the Tuesday gains. The CmdtyView national average Cash Corn price was down 5 cents at $3.74 3/4.
Weekly ethanol data will be released on Thursday due to the Monday holiday, with some looking for production to be steady to slightly lower vs. last week. The Export Sales report is delayed until Friday.
An Allendale survey of producers showed corn yield estimated at 187.52 bpa, with production at 16.631 billion bushels.
Crop Progress data showed conditions 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. Raings in ND were up 11 points, with other fringe states seeing improvement. Deterioration was noted in IL down 16 points, with OH dropping 11, SD down 5, NE 4 points lower, and IN, IA, and MO dropping 2 points.
Sep 25 Corn closed at $3.97 3/4, down 5 1/4 cents,
Nearby Cash was $3.74 1/1, down 5 cents,
Dec 25 Corn closed at $4.18, down 5 cents,
Mar 26 Corn closed at $4.36, down 4 3/4 cents,
New Crop Cash was $3.74 7/8, down 5 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.
