Corn Lower on Turnaround Tuesday

Corn futures are trading 6 to 8 cents lower in most contracts on Turnaround Tuesday. Some of the pressure is coming from double digit losses in wheat. The nearby KC wheat-corn spread is just 13 1/2 cents. After Monday’s close, NASS reported the US corn crop at 92% planted by 6/16, with the numbers of prevent plant acres widely unknown. OH still has 32% of the crop left to be seeded, with IL 12% remaining. Emergence of the US crop was at 79%, 18% below normal. Condition ratings were UNCH on the gd/ex scale at 59%, with the Brugler500 index down 1 to 354.

Jul 19 Corn is at $4.48 1/4, down 6 1/2 cents,

Sep 19 Corn is at $4.53 1/2, down 8 cents,

Dec 19 Corn is at $4.61 1/2, down 7 cents

Mar 20 Corn is at $4.66 1/4, down 6 3/4 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

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