Corn Higher on Short Covering and Slow Planting Progress

Corn futures saw 1 to 2 cent gains in most contracts to start the week. This afternoon’s Crop Progress report indicated the US corn crop was 3% planted as of Sunday, matching last year but lagging the average of 5% for this date. That is expected to be slowed again this week with the 7-day QPF showing much of the Eastern half of the US with an inch or more precip possible. The USDA Export Inspections indicated that 1.182 MMT of corn was shipped in the week that ended on April 11. That was up 11.27% wk/wk but still 25% lower than the same week in 2018.

May 19 Corn closed at $3.62 3/4, up 1 3/4 cents,

Jul 19 Corn closed at $3.71 1/2, up 2 cents,

Sep 19 Corn closed at $3.79 1/2, up 2 cents

Dec 19 Corn closed at $3.90 3/4, up 1 3/4 cents

--provided by Brugler Marketing & Management

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