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Barchart
Barchart
Austin Schroeder

Corn Starting Tuesday with Fractional Gains

Corn prices are trading with contracts fractionally to a penny higher so far on Tuesday morning. Futures posted steady to fractionally higher trade in deferred contracts on Monday, with front months posting 2 ½ to 3 ¼ cent gains for a dead cat bounce following the sharp Friday USDA-led losses. Open interest was down 24,691 contracts on Monday, mainly in the December contract. The CmdtyView national average Cash Corn price was up 3 1/2 cents at $4.41 1/2. Bulls were battling back after USDA added another 234 mbu of unexpected production on Friday. The harvest price for Crop Insurance is discovered during October, with the average December close so far at $4.96.

The Export Inspections and Crop Progress reports will be released later today due to the federal holiday from Monday.

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