Corn futures are experiencing mixed trading as of July 25, with the July contract at $4.37 3/4, down 1/2 cent, while December is at $4.38, up 2 1/4 cents. The national average Cash Corn price remains steady at $4.13 1/4.
As of July 23, 93% of the U.S. corn crop has been planted, matching the 5-year average, with 78% emerged. The crop condition rating improved slightly to 69% good/excellent, with the Brugler500 index rising to 375. Notable increases in conditions were reported in Colorado (+26 points), North Dakota (+16), Texas (+19), while Kentucky and Tennessee saw declines.
In April, 425.8 million bushels of corn were used for ethanol production, a 6% decrease from March but a 6-year high for the month. Ukraine’s Ag minister estimates the country’s corn crop at 26 million metric tons, below the USDA’s initial target of 30.5 million metric tons.
