Corn futures fell back on Tuesday with contracts down 1 to 3 ¼ cents across most nearbys. The CmdtyView national average Cash Corn price was down 2 cents at $3.69 3/4.
USDA’s Crop Progress report showed condition ratings steady at 71% good/excellent, as the Brugler500 index was down 1 point to 381 on a 1% move from excellent to good. Ratings in IL were down 7 points, with IA slipping 4, as well as ND. Improvement was noted in MI (+12), with MO, MN, and NE up 2 point, and OH 14 points higher.
Brazil’s August exports are estimated to total 7.8 MMT according to ANEC, which was a drop of 0.25 MMT from their previous estimate.
Sep 25 Corn closed at $3.87 1/2, down 1 3/4 cents,
Nearby Cash was $3.69 3/4, down 2 cents,
Dec 25 Corn closed at $4.09 1/2, down 2 3/4 cents,
Mar 26 Corn closed at $4.26 1/2, down 3 1/4 cents,
New Crop Cash was $3.67, down 1 3/4 cents,
