Corn Closes Mixed on Tuesday

Corn futures saw mixed trade on Tuesday, with front months fractionally to 1 1/4 cents higher and deferred 2020 contracts 1 to 3 cents lower. Warmer weather in the forecast may help to progress the crop that is at record slow pace. After the Monday close, NASS reported crop condition ratings declining 5 points to 349. Ratings in OH fell the sharpest, down 26 points, with MI (-16), IN (-13), ND (-13), MO (-8) and IL (-7) all reported lower. IA rose 6 points, with MN up 3 and NE 2 points higher. The average trade estimate for corn acreage ahead of Friday’s USDA report is 87.03 million corn acres for the US in 2019 according to a Bloomberg survey. USDA has stated that corn can be planted for silage on prevent plant acres as a “cover crop,”

AgRural pegs Brazil’s second corn crop at 19% harvested, well above the 5-year average at 7%.

Jul 19 Corn closed at $4.47 1/2, up 3/4 cent,

Sep 19 Corn closed at $4.53, up 1 1/4 cents,

Dec 19 Corn closed at $4.57 1/2, up 1/4 cent

Mar 20 Corn closed at $4.62, down 1 cent

--provided by Brugler Marketing & Management




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