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Barchart
Austin Schroeder

Corn Pullback Continues on Tuesday Morning

CmdtyView

Corn is trading with earlier Tuesday losses extending 4 to 5 cents lower. Futures closed out the Monday session seeing some slight buying off the midsession lows, though contracts were still 4 to 5 ½ cents in the red. Preliminary open interest was down 1,259 contracts on Monday. The CmdtyView national average new crop Cash Corn price was $3.80.

Crop Progress data indicated 56% of the US corn crop was silking as of 7/20, 2 points back of the 5-year average. The crop was 14% in the dough stage, vs. the 12% average. Condition ratings were unchanged at 74% gd/ex and 385 on the Brugler500 index. 

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