Corn price action is up 3 to 4 cents so far on Wednesday morning, as double digit gains in wheat are providing support. Open interest was down 17,119 contracts, mainly in the nearby September as rolls out of the contract continues. Futures posted marginal losses on Tuesday, with contracts down 1 to 2 cents across the board. The CmdtyView national average Cash Corn price was down a penny at $4.07 3/4.
Storms across parts of the I-states and OH on Tuesday brought some flash flooding, with some heavy localized rains. There were also strong winds with the NWS Storm Prediction Center indicating preliminary indicators suggest a derecho from eastern IA to northern IN. The extent of actual damage is thus far unknown.
