Corn prices are back down 2 to 4 ½ cents on Tuesday morning. Futures posted gains of 1 ¼ to 3 ½ cents across the board on Monday. September futures expired up 1 ¾ cents at $5.12. Open interest was up 10,360 contracts on Monday suggesting new buying. There were 43 deliveries against September corn on the last trade day. The CmdtyView national average Cash Corn price was up 3 1/4 cents at $4.87.
The weekly Crop Progress report tallied 86% of the US corn crop dented as of September 13, with 42% listed as mature and harvest at 8% complete. Condition ratings were back up 1 percentage point this week at 57% in good to excellent condition, as the Brugler500 index held steady at 347.
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