Commodities
Corn Prices Hit New Highs on Tuesday
Corn prices continued their upward trend on Tuesday, reaching new highs as futures contracts gained between 6 and 8.75 cents.
The September corn contract closed at $5.21.50, while nearby cash corn was up to $4.99.25.
The Crop Progress report showed that 62% of the US corn crop had entered the dough stage by August 30, with 62% dented and 13% mature.
The USDA's Grain Crushing report revealed a total of 474.7 million bushels of corn used for ethanol in July, up 2.3% from last month and 3.75% larger year-over-year.