Corn Facing Tuesday Pressure
The corn market is falling on Tuesday, with contracts anywhere from 5 to 13 cents in the red, led by the front months. The nearby CmdtyView national average Cash Corn price is down 12 1/2 cents at $4.37.
USDA reported a private export sale of 120,000 MT of corn to Spain this morning for 2024/25 shipment.
Crop Progress data from Monday afternoon showed the US corn crop at 24% planted as of April 27, which is ahead of the 5-year average at 22% for that date. Emergence was pegged at 5%, 1 percentage point ahead of normal. Some ECB area states were lagging their normal planting pace, with IL, IN, KY, NC, PA, TN, and WI all behind.
A Taiwan importer purchased 65,000 MT of US corn in a tender overnight. A South Korean import purchased a total of 66,000 MT of corn in a tender on Tuesday.
May 25 Corn is at $4.62, down 13 1/2 cents,
Nearby Cash is at $4.37, down 12 1/2 cents,
Jul 25 Corn is at $4.71 1/4, down 12 cents,
Dec 25 Corn is at $4.44 3/4, down 5 1/2 cents,
New Crop Cash is at $4.08 1/2, down 5 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.