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Corn futures fell lower on Tuesday, with front months 13 to 15 cents in the red and new crop December down just 5 ¾ cents. The nearby CmdtyView national average Cash Corn price was down 13 1/4 cents at $4.36 1/4.
USDA reported a private export sale of 120,000 MT of corn to Spain this morning for 2024/25 shipment.
After the bounce back last week, EIA ethanol production data is expected to be steady to slightly lower in the report that will be out on Wednesday.
Crop Progress data from Monday afternoon showed the US corn crop at 24% planted as of April 27, which is ahead of the 5-year average at 22% for that date. Some ECB area states were lagging their normal planting pace, with IL, IN, KY, NC, PA, TN, and WI all behind. Precipitation for the next week is limited in the Northern Plains, and over to IA, MN, and WI. Lighter totals are seen in IL, and IN.
A Taiwan importer purchased 65,000 MT of US corn in a tender overnight. A South Korean import purchased a total of 66,000 MT of corn in a tender on Tuesday.
May 25 Corn closed at $4.60 1/2, down 15 cents,
Nearby Cash was $4.36 1/4, down 13 1/4 cents,
Jul 25 Corn closed at $4.70 1/4, down 13 cents,
Dec 25 Corn closed at $4.44 1/2, down 5 3/4 cents,
New Crop Cash was $4.07, down 6 cents,
