Corn futures found late strength on Tuesday with contracts closing 6 to 10 ¾ cents higher across most contracts. The CmdtyView national average Cash Corn price was up 10 1/2 cents at $4.69.

Monthly Census data showed corn exports during August at 7.422 MMT (292.21.5 mbu), which was a record for the month. That was up 25.71% from July and took the marketing year total to 3.426 bbu. Distillers exports were 1.301 MMT, the second largest August on record. Ethanol exports were a record 211.77 million gallons, up 5.57 % from last year and 6.15% above July.

Monday’s Crop Progress report showed harvest at 23% complete and 4 percentage points behind the average pace. Harvest was notably lagging in IA (-13%), MI (-12%), NE (-9%), OH (-6%), and SD (-5%). Condition ratings were down 3% this week at 54% in good to excellent condition, as the Brugler500 index 5 points lower at 342. 

Brazil’s monthly exports in September totaled 5.21 MMT, which was a 11.96% increase from last month, but 31.09% shy of September last year.

Dec 26 Corn  closed at $5.08, up 10 3/4 cents,

Nearby Cash  was $4.69, up 10 1/2 cents,

Mar 27 Corn  closed at $5.22 1/4, up 10 3/4 cents,

May 27 Corn  closed at $5.29, up 10 1/2 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.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.