Corn Prices Dip After Overnight Highs as September Begins
On Tuesday morning, corn prices are trading with losses of 2 to 3 cents following overnight highs. December futures were down from their peak but finished August up by 1 to 3½ cents per bushel. Open interest increased significantly on Monday, and there were additional deliveries issued against September contracts. The national average Cash Corn price rose slightly this week at $4.93½. The latest Crop Progress report indicated that the U.S. corn crop is advancing through key growth stages but remains in stable condition ratings. Export inspections for the week of August 27 showed a notable increase, with Mexico as the top destination. Meanwhile, Brazil's second corn harvest lags behind last year at 96% completion in the center-south region, while planting has just begun for the next season.
Topics: corn crop_progress futures_trading