Corn

Corn futures closed Monday with fractional to 1 1/4 cent gains in most contracts. The Crop Progress report showed 5% of the US corn crop has been harvested, vs. the average of 6%. In addition, 21% was reported mature, a full 10% below the average. The report had corn conditions unchanged from last week at 61% gd/ex, with a Brugler500 of 357. This morning’s USDA Export Inspections report indicated corn shipments of 662,173 MT. That is 19% lower than last week and 30.62% behind last year.Analysts are expecting the USDA to show new crop world ending stocks nearly 3 MMT lower than August at 197.8 MMT.

Sep 17 Corn closed at $3.45 1/2, up 1 1/4 cents,

Dec 17 Corn closed at $3.57 1/2, up 3/4 cent,

Mar 18 Corn closed at $3.69 3/4, up 3/4 cent

May 18 Corn closed at $3.77 3/4, up 1 cent




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