Corn Prices Hold Steady Ahead of USDA Report

Corn futures prices remain relatively stable on Tuesday morning, with contracts trading fractionally lower. The CmdtyView national average Cash Corn price slipped by half a cent to $4.08.

The US corn crop's progress report from Monday showed that 94% of the crop had silked by August 9, six percentage points ahead of normal, and 16% was dented. The condition ratings remained steady at 61% in good to excellent condition.

A Reuters survey of analysts predicts a yield of 182.4 bushels per acre for the upcoming harvest season, with a range of 180.5 to 184.8 bpa. Production is estimated at 15.934 billion bushels, as harvested acres are expected to be trimmed by 76,000 acres.