Market Overview

Corn Little Changed

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July Corn is trading at 360, unchanged on the session and December Corn is trading at 377 1/4, down 1/2 of a cent.

The interior corn basis was a little weak on Friday, corn spreads were also soft last week. Chatter about larger global supplies has been making the rounds in recent days and has led to some selling on rallies.

Chatter about U.S. weather in the Midwest has been making the rounds. Because of the good levels of accelerated planting and good growing weather some chatter about corn yields reaching 169 bushels per acre or more have been making the rounds.

Market talk about planting progress reports are estimating levels of 89-92% vs. 86% last year and a 10-year average of around 88%. Chatter about crop condition reports are also making the rounds.

 

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Posted-In: cornFutures Commodities Markets

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