Corn futures held onto gains heading into the Tuesday close, as contracts were up 1 to 2 cents in the nearbys. The front month CmdtyView national average Cash Corn
Crop Progress data from Monday showed price was up 1 1/4 cents at $3.88 3/4. owed steady crop ratings at 74% gd/ex and 385 on the Brugler500 index. By state, IN was down 2, with SD and OH slipping 1, and MI falling 9. Improvement was noted in MO (+14), ND (+6), NE and IL (+3), with IA ratings steady.
Rains are expected to be rather widespread this next week according to NOAA’s 7-day QPF, with much of the Corn Belt seeing 1 to 3 inches.
Brazil corn exports are expected to total 4.3 MMT in July according to ANEC, a 0.26 MMT increase from their prior number and above the 3.55 MMT from last year.
EIA data will be released on Wednesday morning with some looking for a steady ethanol production number during the week that ended on July 11.
Sep 25 Corn closed at $4.01 1/4, up 1 1/4 cents,
Nearby Cash was $3.88 3/4, up 1 1/4 cents,
Dec 25 Corn closed at $4.19 3/4, up 1 3/4 cents,
Mar 26 Corn closed at $4.36 3/4, up 2 cents,
New Crop Cash was $3.77 1/4, up 1 1/2 cents,
