Corn price action is steady to a penny higher so far on Wednesday morning. Futures closed the Tuesday session with the weakness continuing, as contracts were down 2 ½ to 6 cents across the board, led by the new crop months. Open interest suggested new selling interest up 13,907 contracts. The CmdtyView national average Cash Corn price was down 3 ¼ cents at $4.04 ½.
NASS Crop Progress data showed 93% of the US corn crop planted as of May 31, 1 percentage point ahead of normal. Emergence was at 76% of the expected area, 2% faster than normal. The initial corn crop rating came in a 67% good/excellent, coming in below the 70% estimate from a Reuters survey of ******* ysts and 2% below the year prior. That was a 371 rating on the Brugler500 index (100-500 point scale of the 5 USDA categories), which was a 3-year low and the third lowest initial rating in the last 13 years. The lower end of ratings came in at 340 for Ohio, with Iowa ratings at 399.
Mounting Weather Concerns Boost Cocoa Prices
Arabica Coffee Tumbles on Brazil Harvest Pressures
Cocoa Prices Jump on El Niño Risks
NASS Crop Progress data showed 93% of the US corn crop planted as of May 31, 1 percentage point ahead of normal. Emergence was at 76% of the expected area, 2% faster than normal. The initial corn crop rating came in a 67% good/excellent, coming in below the 70% estimate from a Reuters survey of ******* ysts and 2% below the year prior. That was a 371 rating on the Brugler500 index (100-500 point scale of the 5 USDA categories), which was a 3-year low and the third lowest initial rating in the last 13 years. The lower end of ratings came in at 340 for Ohio, with Iowa ratings at 399.
Mounting Weather Concerns Boost Cocoa Prices
Arabica Coffee Tumbles on Brazil Harvest Pressures
Cocoa Prices Jump on El Niño Risks
3 months ago
