Corn futures are showing gains at midday, with contracts to 2 to 2 ½ cents higher so far on Friday. The CmdtyView national average Cash Corn price is up 2 cents at $3.81 1/4.
We are over halfway through October and getting closer to the Crop Insurance harvest price, with the average close of December futures at $4.18 so far. That is below the $4.70 from February and above the $4.16 harvest price last year.
Harvest should continue in the next week for much of the Western Corn Belt, with the ECB seeing 1-3 inches. That should put a slowdown on any later harvest, though it will add back to some lower river levels along the Mississippi. Yield results thus far for some have been below expectations.
The Buenos Aires Grain Exchange estimates the Argentina corn crop at 29.9% planted, ahead of the same time last year and the average pace.
Dec 25 Corn is at $4.23 3/4, up 2 cents,
Nearby Cash is at $3.81 1/4, up 2 cents,
Mar 26 Corn is at $4.38, up 2 1/2 cents,
May 26 Corn is at $4.46 1/4, up 2 1/2 cents,
