Corn Futures in Black for Tuesday
After continuing weaker overnight, the corn market is working on a Turnaround Tuesday through midday with prices 1 to 4 cents in the black.
NOAAs 7-day QPF has harvest delaying rain in the forecast from MT through AR, with accumulations of over 4 in OK/ S. KS. The Dakotas will see 2-3 of accumulated rainfall. ECB fields will remain more dry.
Crop Progress data had 90% of the corn crop in the dent stage, while 54% was mature as of 9/17. NASS showed corn harvest advanced 4% points to 9% complete which remains 2 ppts ahead of average. The remaining condition ratings scored 7% VP, 13% P, 29% F, 43% G, and 8% E for a Brugler500 rating of 332. That is down 5 points on the Brugler500 Index from last week, with the most notable drops in CO, IL, and OH.