Corn Bouncing at Tuesday’s Midday
Corn futures are trading with midday gains of 1 of 3 cents on Tuesday, following strength on Tuesday. The CmdtyView national average Cash Corn price is up a nickel at $4.18 ¾.
The weekly Crop Progress report showed 59% of the US corn crop silking by July 19, 5 percentage points ahead of the 5-year average, with 13% in the dough stage. US condition ratings were back down 1% at 67% in good to excellent condition, as the Brugler500 index slipped 1 to at 372. Ratings in ND (-18), SD (-14), CO (-23), WI (-8), KS (-7), MO (-7) and MN (-5) all took a dip in that week. The I-States were improving, with IL up 3 and IN/IA rising 5 points, as NE improved 4 and OH up 1.
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The 7-day QPF from NOAA showed a band of 1 to 2 inches of rain in parts of NE, KS, and MO, as well as OH in the next week. The Dakotas, MN, WI, IA, IL, and IN remain on the dries side, with less than 0.5 inches expected.
President Trump late on Monday stated the US is putting 50% tariffs on certain Canadian goods citing trade discrimination. Both energy and potash are exempt.
Sep 26 Corn is at $4.51 3/4, up 2 1/4 cents,
Nearby Cash is at $4.20, up 2 1/4 cents,
Dec 26 Corn is at $4.74 1/2, up 1 1/2 cents,
Mar 27 Corn is at $4.90 1/4, up 1 3/4 cents,
New Crop Cash is at $4.23 1/4, up 2 1/4 cents,
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