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Austin Schroeder

Corn Bulls Trying to Take Control on Wednesday

IN NE SD CmdtyView MI

Corn price action is 4 to 6 cents higher so far on Wednesday morning. Futures held onto gains heading into the Tuesday close, as contracts were up 1 to 2 cents in the nearbys. Preliminary open interest suggested some light short covering, down 21,565 contracts. The front month CmdtyView national average Cash Corn price was up 1 1/4 cents at $3.88 3/4.

Crop Progress data showed crop ratings 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.

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