Corn Rallying in the New Crop Months
Corn futures are trading with contracts mixed, as nearby July is down 2 cents and other months up 4 to 6 cents. The front month CmdtyView national average Cash Corn price was down 2 cents at $4.09 1/4.
Rains are scattered over much of the Corn Belt on for the next week according to the NOAA 7-day QPF.
After the Monday close, USDA Crop Progress report showed corn at 94% emerged across the country, on par with the five-year average pace. Condition ratings were up 1 point to 72% good/excellent, as the Brugler500 index was one point higher to 379 points. Ratings were shifting over the Corn Belt, with IN and IA slipping back 4 points, and TX down 16. Improvement was noted in NE, up 8, with IL and MN 2 points higher and ND 3 points higher.
Jul 25 Corn is at $4.32 3/4, down 2 cents,
Nearby Cash is at $4.09 1/4, down 2 cents,
Sep 25 Corn is at $4.25, up 5 1/4 cents,
Dec 25 Corn is at $4.39 3/4, up 4 3/4 cents,
New Crop Cash is at $3.97, up 5 1/4 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.