Corn Market Rebounds 4 to 5 Cents

Corn futures are 4 to 5 cents higher to start Turnaround Tuesday trading. The weekly Crop Progress report indicated that 55% of the US corn crop was in the dough stage (76% avg), with 15% dented (30% avg) as of Sunday. Condition ratings slipped 1% to 57 % gd/ex, with the Brugler500 Index down 2 points to 349. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. The Ohio average was 154.35 bpa, and down the same 14% as USDA. South Dakota average was 154.1 bpa and down 13% from the tour average last year. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Sorghum shipments to China totaled 50,002 MT.

--- provided by Brugler Marketing & Management

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