By Austin Schroeder
Following the strength from last week, the corn market felt pressure from outside and a weaker wheat market, as contracts were 1 to 3 ½ cents lower. The national average Cash Corn price from cmdtyView was down 1/4 cent at $4.04 1/4 per bu.
The Outside factors were in play today, with crude oil down $2.24/barrel and the US dollar index up 515 points. Weakness in wheat also played spill over pressure.
Export Inspections and Crop Progress data will be delayed to Tuesday due to Veterans Day to start the week.
Brazil’s first corn crop was pegged at 72% planted as of last Thursday according to AgRural.
Dec 24 Corn closed at $4.30, down 1 cent,
Nearby Cash was $4.04 1/4, down 1/4 cent,
Mar 25 Corn closed at $4.42 3/4, down 1 1/2 cents,
May 25 Corn closed at $4.49 3/4, down 1 3/4 cents,
Click here to see more...