Corn price action is down 3 to 4 cents on Tuesday morning. Futures saw money flow flock back in on Monday, with bulls adding back some risk ahead of the US/China meeting this week. Contracts were up 3 ¼ to 15 ½ cents at the close, led by the front months. Open interest was down just 453 contracts, mainly in the front months. The CmdtyView national average Cash Corn price was up 15 1/2 cents at $4.98 3/4.
Monday’s Crop Progress report tallied 58% of the US corn crop listed as mature as of September 20, with harvest at 13% complete and ahead of the 11% average pace. Condition ratings were back up 1 percentage point this week at 57% in good to excellent condition, as the Brugler500 index held steady at 347.
