9/16/2024 8:00 am

Corn market is slightly lower this morning on hedge pressure from harvest over the weekend. Would not be surprised to see unchanged trade later in the session as funds continue to cover short positions.

Open interest in corn jumped over 22k contracts on Friday's rally.

Corn harvest to keep moving northward with MO in full harvest mode. Record yields continue to be seen in MO while good yields being seen in parts of KS and southern IL. US crop ratings expected to be steady to down 1 point as we normally see crop conditions decline in September.

Farmer selling in areas of record yields has been heavy with CZ above $4.10 but quiet in other areas where harvest has not started.

This morning's weather maps reduced the amount of rain for the WCB this week vs what the models called for last Friday (now pushing the rains back into next week).

 9/12/2024