Corn futures are trading fractionally higher this morning. They settled Tuesday with 1 to 3 1/2 cent losses, as all 2019 contracts posted new life of contracts lows. Forecasts for the next week should allow for some field work to pick up across parts of the Corn Belt. Spillover selling from soybeans was also seen as pressure. None of the 18 reported states were shown ahead of their average pace for planting in Monday’s Crop Progress report. Last year turned out OK on yield, so the market isn’t getting excited yet. The average US cash price for corn on Tuesday via cmdtyView data was $3.29 1/2, down 27 3/4 cents from last year. That would put basis at -21 1/2 cents, 9 3/4 cents stronger than the same time in 2018.
--provided by Brugler Marketing & Management