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Barchart
Barchart
Austin Schroeder

Corn Extend Gains to Tuesday

CmdtyView Crop Progress United States nickel

Corn futures extended the rally to Tuesday, with contracts closing 3 ½ to 6 ¾ cents higher, as July was just 1 ¾ cents higher. The CmdtyView national average Cash Corn price was a nickel higher at $4.13 3/4.

The weekly Crop Progress report showed 16% of the US corn crop silking by July 5, 2 percentage points ahead of the 5-year average, with 3% in the dough stage. US condition ratings were left at 67% in good to excellent condition, as the Brugler500 index was also steady at 371. Improvement (via the Brugler500 index) was noted in MI (+19), MN (+7), SD (+5), MO (+4), and IA (+1). Deterioration was seen in TX (-14), OH (-12), NE/IL/KS (-5), ND (-4) and IN (-2).

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