Corn Trading Lower at Midday

Midday trading through the Tuesday session has futures 3 to 3 3/4 cents lower. The national average cash corn price from cmdtyView is $3.33 3/4 per bushel. January corn futures posted a contract high on the Dalian Grains Exchange, closing 9/14 at 2,419 yuan/MT (~ $9.06/bu). Private exporters sold 120k MT of corn to unknown with 2020/21 delivery per the USDA daily reporting system. Corn in IL/IN/OH was even or behind on maturity, but across the WCB the very dry August had corn maturing faster than average. In IA corn was 45% mature, which was 75% more than the average 26%. In MN corn was maturing more than twice the average pace @ 45% compared to 17%. The driest August on record for NE had corn 78% ahead of average maturity, with 48% compared to the average 27%. Nationally, corn was 9 ppts ahead of average with 41% mature. Corn harvest is now 5% complete, matching the average national pace. National corn condition ratings were down three points on the Brugler500 index to 354. Conditions in North Dakota fell 22 points to 362 due to frost and freeze damage to late planted corn.

Dec 20 Corn is at $3.65 3/4, down 3 3/4 cents,

Mar 21 Corn is at $3.75 1/2, down 3 1/2 cents,

May 21 Corn is at $3.81 1/4, down 3 1/2 cents,

Jul 21 Corn is at $3.84 3/4, down 3 1/2 cents,

--- provided by Brugler Marketing & Management




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