Corn futures closed Tuesday’s trading down 2 cents for the first few months as the contracts retreated following some technical pressure. The CmdtyView national average spot corn price was $3.77 as of today’s close. The average close of December futures so far this month has been $4.20. The average price of the entire month is used to determine the price of the crop for crop insurance.
The EIA data will be released Wednesday morning, with some traders looking to see if ethanol production rebounds from last week’s decline.
Despite a government shutdown likely to suspend Thursday’s report on agricultural production, a Reuters survey shows analysts estimate the yield at 185 bpa, down 1.7 bpa from September.
December 25 Corn closed at $4.19 3/4, down 2 cents,
Nearby cash was $3.77, up 1 cent,
On March 26, corn closed at $4.36 1/4, down 2 cents,
On May 26, corn closed at $4.45 1/4, down 2 cents,
As of the date of publication, Austin Schroeder had (directly or indirectly) no position in any of the securities mentioned in this article. All information and data contained in this article are for informational purposes only. This article was originally published on Barchart.com
