Corn Squaring Up Lower Ahead of USDA Reports, Despite a Cut to Crop Ratings

Corn price action is down fractionally to 2 cents so far on Tuesday morning as traders gear up for USDA data. Futures were under pressure on Monday, as longs headed for the exits ahead of USDA's report on Tuesday. Contracts were down 5 ¼ to 11 ½ cents at the close. There were 44 delivery notice on first notice day for July futures. The CmdtyView national average Cash Corn price was 10 3/4 cents lower at $3.76.

The weekly Crop Progress report showed 9% of the US corn crop silking by June 28, 3 percentage points ahead of the 5-year average. US condition ratings were 67% in good to excellent condition, down 1% from the previous week, as the Brugler500 index slipped 2 points to 371.

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Monday morning's Export Inspections report showed corn shipments of 1.786 MMT (70.32  mbu) in the week of 6/25. That was up 21.7% from the week prior and 29.34

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/commodities/articles/corn-squaring-lower-ahead-usda-123056720.html)