Corn futures are giving back most of yesterday’s gains, down 3 to 4 cents at midday. Monday’s Crop Progress indicated most WCB states lagging harvest pace and only moving 2-3% on the week, with ECB states now well above normal. However, condition ratings held up better than expected for the US as a whole. Condition ratings were down 1 in IA and up the same in IN, while MN lost 3 points with the Dakotas both lower and NE up 2. The weekly EIA report showing ethanol production will be released on Wednesday morning, per the normal weekly schedule. An Israeli importer is seeking 60,000 MT of corn, with the tender to closed on Wednesday and US listed as an accepted origin.
Dec 18 Corn is at $3.74 1/2, down 3 3/4 cents,
Mar 19 Corn is at $3.86 1/4, down 4 cents,
May 19 Corn is at $3.93 1/4, down 4 cents
Jul 19 Corn is at $3.98 1/2, down 3 3/4 cents
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