Corn prices settled mostly ½ to 2 ¼ cents higher on Tuesday, extending Monday’s rally and closing above some initial technical resistance levels such as the 18-day moving average. Prices did back off from midday levels, when they had been 4 to 5 cents higher. 

A drier weather pattern is expected across the Plains for the next week. Temps are expected to be above average, particularly in the western half of the Corn Belt.

USDA reported another private sale of 200,000 MT of corn to unknown destinations this morning for 2024/25 shipment.  US FOB prices are competitive with Brazilian offerings. 

Monday afternoon’s Crop Progress report showed condition ratings across the country slipping 1%to 67% rated good/excellent. That dropped the Brugler500 index by 2 points to 370, as 1% shifted from good to poor. The 5 year average (roughly associated with trend yield) for this week is 366.  

Sep 24 Corn  closed at $4.02 1/2, up 2 1/4 cents,

Nearby Cash  was $3.96 1/1, up 2 1/4 cents,

Dec 24 Corn  closed at $4.17 1/4, up 2 1/4 cents,

Mar 25 Corn  closed at $4.31 1/4, up 2 cents,

New Crop Cash  was $3.80 1/1, up 2 1/4 cents,