Corn futures closed the Tuesday session with deferred contracts fractionally lower to down 5 2/4 cents in the nearbys. In delivery May was down 8 ¼ cents. The CmdtyView national average Cash Corn price was 6 cents lower on the day to $4.38. Crude oil was back down $3.74 on the day to apply slight pressure.
NASS Crop Progress data showed the US corn crop at 38% planted as of Sunday, which was 4% ahead of the 5-year average pace of 34% and is now matching the pace from last year. By state, CO (-1%), IA (-2%), KS (-1%), MI (-9%), MO (-6%), NC (-5%), ND (-5%), and WI (-5%) were reported as lagging behind. The crop was also 3% emerged, which is 4 percentage points faster than normal.
