Corn futures posted mixed trade on Tuesday, with contracts closing as much as 1 ¾ lower to a penny higher across the board. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $4.35 1/2.
The ProFarmer Crop Tour started on Monday, with South Dakota corn yields averaging 149.09 bushels per acre down 14.41% from the last year and 8.37% below the 3 year average. Ohio yields came in at 180.18 bpa, down 2.97% from a year ago and a 2.25% decline from the three year average. Results for Indiana and Nebraska will be announced later this evening.
The weekly Crop Progress report showed condition ratings down 1% this week at 60% in good to excellent condition, as the Brugler500 index was down 3 points to 353. By state via the Brugler500 index KS (-18), SD (-13), IN (-9), MN (-8), WI (-6), CO (-24), and TX (-11) all saw deteriorating conditions. Improvement was noted in NE (+2), ND (+17), OH (+7), as well as PA, NC, MI and KY.
ANEC estimates the Brazilian corn export total in August at 5.63 MMT, a 0.46 MMT increase from last week’s number.
Sep 26 Corn closed at $4.63 1/4, down 1 3/4 cents,
Nearby Cash was $4.35 1/2, down 1 3/4 cents,
Dec 26 Corn closed at $4.88, down 1 1/2 cents,
Mar 27 Corn closed at $5.04, down 1 1/4 cents,
New Crop Cash was $4.38 1/4, down 2 1/4 cents,
