Commodities
Home›Commodities›Agriculture›Corn slips after early midday gains as yields show dec…
Corn slips after early midday gains as yields show decline
ProFarmer Crop Tour data point to South Dakota corn yields averaging 149.09 bushels per acre, down 14.41% year over year, while Crop Progress shows 76% of the US crop in the dough stage by Aug. 16.
Corn futures were moving lower after early gains, trading about fractional to 1 ¼ cents at Monday midday, with the CmdtyView national average cash corn price down 1 1/4 cents to $4.35, according to a Yahoo Finance writeup of Barchart.com coverage.
The ProFarmer Crop Tour began Monday and showed South Dakota corn yields averaging 149.09 bushels per acre, down 14.41% from last year and 8.37% below the three-year average. The report also cited Ohio yields at 180.18 bushels per acre, down 2.97% year over year and 2.25% versus the three-year average, with results for Indiana and Nebraska due later Tuesday.
In weekly Crop Progress, 76% of the US corn crop was in the dough stage by Aug. 16, with 29% dented and 4% listed as mature. Condition ratings were down 1% this week to 60% in good to excellent, with the Brugler500 index falling 3 points to 353.
By state, conditions deteriorated in several areas, including Kansas (-18) and South Dakota (-13), while improvements were noted in Nebraska (+2), North Dakota (+17), Ohio (+7), and select other states.
Yahoo Finance also highlighted an ANEC estimate for Brazilian corn exports in August of 5.63 MMT, up 0.46 MMT from the prior week’s figure.
Latest closeCorn $483.75 ▲8.0%