{"id":1685,"date":"2024-07-05T03:53:26","date_gmt":"2024-07-05T03:53:26","guid":{"rendered":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/?p=1685"},"modified":"2024-07-05T03:53:26","modified_gmt":"2024-07-05T03:53:26","slug":"corn-pulling-off-morning-highs","status":"publish","type":"post","link":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/corn-pulling-off-morning-highs\/","title":{"rendered":"Corn Pulling Off Morning Highs"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Corn futures are slipped back lower into midday, with contracts front months up fractionally to 2 \u00be cents and new crop December down \u00bc cents. Deliveries against July corn futures slowed overnight, to 263 contracts. That might be because Bunge is keeping the ones they get (stopping another 260 overnight). <\/p>\n\n\n\n

A private export sale of 100,000 MT of old crop corn was reported to Columbia by the USDA this morning. <\/p>\n\n\n\n

Monday\u2019s Grains Crushing report showed 453.7 mbu of corn used for ethanol production during May. That was a 7.4% jump on the revised (5.5 mbu higher) April total and a 3.34% increase vs. the same month last year. That also takes the marketing year total to 4.068 bbu, or 74.6% of USDA\u2019s full year forecast, on pace with the 8-year average.<\/p>\n\n\n\n

The weekly Crop Progress report from NASS showed 11% of the US crop silking, 5% ahead of the 5-year average pace. IL was 17% silking, 14% above normal, with KS 30% and 17% faster than the average and Missouri at 35% (vs the 10% average). None of the 18 reported states were tallied as lagging the average pace. <\/p>\n\n\n\n

Condition ratings saw a 2% decline to 67% gd\/ex. Factoring in all 5 categories, the Brugler500 index dropped 4 points to 370. Notable deterioration has been going on in NC (very small production totals but important for some ECB basis levels due to hog production), with ratings down 177 points from the initial rating to 216. In more measurable states, IA was down 6 points, with KS losing 9 points, MN 6 points lower and NE slipping 5 points. IL improved 3 points, with IN up 6, and OH 4 points higher.<\/p>\n\n\n\n

Jul 24 Corn<\/a> is at $4.01, up 2 3\/4 cents,<\/p>\n\n\n\n

Nearby Cash<\/a> is at $3.92 3\/4, up 1\/2 cent,<\/p>\n\n\n\n

Sep 24 Corn<\/a> is at $4.07 1\/4, up 1\/4 cent,<\/p>\n\n\n\n

Dec 24 Corn<\/a> is at $4.20 1\/4, down 1\/4 cent,<\/p>\n\n\n\n

New Crop Cash<\/a> is at $3.82 3\/8, down 1 1\/2 cents,
On the date of publication, Alan Brugler<\/a> 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<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Corn futures are slipped back lower into midday, with contracts front months up fractionally to 2 \u00be cents and new crop December down \u00bc cents. Deliveries against July corn futures slowed […]<\/p>\n","protected":false},"author":1,"featured_media":1686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,8],"tags":[],"class_list":["post-1685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alan-brugler","category-corn","entry","has-media"],"_links":{"self":[{"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/posts\/1685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/comments?post=1685"}],"version-history":[{"count":1,"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/posts\/1685\/revisions"}],"predecessor-version":[{"id":1687,"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/posts\/1685\/revisions\/1687"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/media\/1686"}],"wp:attachment":[{"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/media?parent=1685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/categories?post=1685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jwilsonpaving.ca\/wilsonfarms\/wp-json\/wp\/v2\/tags?post=1685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}