Corn price action is down fractionally to a penny so rat on Wednesday morning. Futures gave back some of the Monday gains on Tuesday, closing with losses of 1 to 2 cents of most contracts. Preliminary open interest was up 5,956 contracts on Tuesday, as there still has yet to be any deliveries against September futures for the month. The CmdtyView national average Cash Corn price was down 2 cents at $3.75.
NASS reported the US corn harvest progress at 4% complete. Harvest was at 1% in IN and 2% in IL, with MO at 9% complete. Condition ratings were down 1% to 68% gd/ex, with the Brugler500 index down 1 point to 375. Noticeable ratings drops were noted in OH, down 23, with MI dropping 10 and IA down 9.
