Corn Turns Higher to Post Tuesday Gains

Austin Schroeder Barchart Tue Jun 3, 5:16PM CDT
Yellow corn with husks removed by mute-gemini via Pixabay

Corn futures closed out the Tuesday session with some gains. July was up just ¼ cent as the bear spreading continued, with December now par with July and up 2 ¾ cents on the day. The front month CmdtyView national average Cash Corn price was up ½ cent at $4.14 3/4. 

Weekly Crop Progress data showed the US corn crop now 93% planted as of Sunday, matching the 5-year average, with emergence 1 percentage point ahead of normal at 78%. Planting pace is still lagging in IN (-4%), KY (-9%), OH (-15%), PA (-13%), and TN (-5%). The second week of condition ratings saw a 1% shift to good/excellent at 69%, with the Brugler500 index up 1 point to 375. The biggest changes were in CO (+26 points), ND (+16), TX (+19), and MN (+9), with KY down 14 points, TN dropping 10, and IL slipping 7.

Ukraine’s Ag minister estimates the country’s corn crop near 26 MMT, which is below the 30.5 MMT from the USDA’s initial target. EU corn exports since July 1 have totaled 18.2 MMT, which is ahead of the 17 MMT total in the same point last year.  

Jul 25 Corn  closed at $4.38 1/2, up 1/4 cent,

Nearby Cash  was $4.14 3/4, up 1/2 cent,

Sep 25 Corn  closed at $4.23 1/2, up 2 3/4 cents,

Dec 25 Corn  closed at $4.38 1/2, up 2 3/4 cents,

New Crop Cash  was $3.96 1/2, up 2 3/4 cents,


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.