Corn prices shot higher at the Sunday night open in response to the Pro Farmer yield projection, up 12 to 13 cents so far on Monday morning. Futures found late strength on Friday with contracts 2 ¾ to 6 ½ cents higher across the board. Open interest was down 12,307 contracts, but heavily influenced by a 32,494 drop in the September contracts. September was 24 ¾ cents higher on the week, with December rallying 25 ¼ cents. The CmdtyView national average Cash Corn price was up 5 cents at $4.52 ½.
Following last week’s Crop Tour, Pro Farmer estimates the US national yield at 173.2 pba, with production at 15.344 bbu.
