Corn Market Down Despite Confirmed Slow Planting

Corn futures are again feeling pressure from the rest of the grain complex, with losses of 1 to 3 cents at midday. The Monday afternoon Crop Progress report showed 15% of the US crop planted as of Sunday. That is down 12% from the average pace as we near May 1 but even with last year, which produced a national yield of 176.4 bpa (0.2 bpa below record). Delays typically need to be well into May before seeing any huge effect on yield. IL was only 9% planted vs. the average of 43%, with MN 2% complete compared to 24% normally. NASS also reported 3% of the crop emerged.

May 19 Corn is at $3.50 3/4, down 1 1/4 cents,

Jul 19 Corn is at $3.60, down 1 3/4 cents,

Sep 19 Corn is at $3.68 1/4, down 1 3/4 cents

Dec 19 Corn is at $3.78 3/4, down 2 1/2 cents

--provided by Brugler Marketing & Management




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