Corn futures are trading with 5 to 6 cent losses at the midday portion of the session. The CmdtyView national average Cash Corn price is 5 1/2 lower cents at $4.22 3/4.
The average close for December corn in October has been $4.87, as the October is used to determine the harvest price option for crop insurance.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Late on Monday, the White House announced a Harvest Fuel Relief Program, providing producers with $8 billion in assistance due to high fuel prices.
The Monday Crop Progress report showed 44% of the US corn harvest complete as of October 18, with 8 percentage points behind the average pace. Condition ratings were steady this week at 56% in good to excellent condition, with the Brugler500 index a single point higher at 347.
Harvest should be able to roll along this next week, with the 7-day QPF from NOAA showing very little precip across much of the Corn Belt this next week.
Dec 26 Corn is at $4.61 1/4, down 5 3/4 cents,
Nearby Cash is at $4.22 3/4, down 5 1/2 cents,
Mar 27 Corn is at $4.75 1/2, down 5 cents,
May 27 Corn is at $4.83 1/2, down 5 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.