⛏Corn Futures
CORN
▼ NegativeSupplyrelevance
Improving weather forecast and declining crude oil pressure corn futures; crop condition ratings fell but silking ahead of average.
Impact on assets 1
Others
Corn futures fell across the board on Monday, with front-month contracts leading losses of 2½ to 13½ cents, pressured by an improving weather forecast and a $7.40 drop in crude oil. The CmdtyView national average cash corn price declined 12½ cents to $4.21¼. USDA’s Crop Progress report showed 78% of the US corn crop silking, ahead of the five-year average, but condition ratings fell 4% to 63% good to excellent, with the Brugler500 index down 11 points to 361. Export shipments for the week ending July 23 totaled 1.488 million metric tons, down 7.74% from the prior week, with Mexico as the top destination. Brazil’s second corn crop harvest in the center-south region reached 60%, lagging the 68% average for this time of year.
Improving weather forecast and declining crude oil pressure corn futures; crop condition ratings fell but silking ahead of average.