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Barchart
Austin Schroeder

Corn Pulling Back Leading into USDA Data

United States CmdtyView

Corn price action is back down 3 to 3 ½ cents early on Tuesday. Futures posted Monday strength, holding the gains into the close. Contracts were up 2 to 3 cents across most nearbys. Preliminary open interest was down 36,749 contracts on Monday, suggesting some short covering. The CmdtyView national average Cash Corn price was down 2 1/4 cents at $3.68 1/2.

Crop Progress data showed the US corn crop at 94% silking, with 58% in the dough stage. The crop was also listed at 14% dented as of Sunday. Conditions slipped 1 point this week, to 72% gd/ex and 383 on the Brugler500 index.

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