Corn Futures Mixed

CBOT corn futures settled mixed Monday as September corn fell .6 cents to $3.25 per bushel. September corn was down as much as 7 cents in early trading due to better-than-expected rain over the weekend. This was offset, though, by U.S. wheat futures hitting new contract highs. 

Today's Crop Progress Report: Analyst expected crop ratings to decrease 3-5 percentage points from last week's rating of 58% for corn in good-to-excellent condition. Analyst overestimated as ratings decreased 2 percentage points to 56% for corn in good-to-excellent condition. With rain expected for the first half of this week, this is good news for bears.

What ethanol producers paid for their corn today:

VeraSun (VSE):
Aurora Plant: $3.06 per bushel
Fort Dodge Plant: $2.96 per bushel
Charles City Plant: $2.86 per bushel

US BioEnergy (USBE):
Platte Valley Plant: $3.17 per bushel
Woodbury Plant: $3.21 per bushel
Ord Plant: $3.21 per bushel

Aventine (AVR):
Pekin Plant: $3.05 per bushel

Hawkeye Renewables:
Iowa Falls Plant: $2.89 per bushel
Fairbank Plant: $2.85 per bushel

 

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