US Corn Prices Dip After Overnight Highs

Corn prices are trading with losses on Tuesday morning, down from overnight highs. December corn is currently off nine cents from its peak.

The week's Crop Progress report showed that 62% of the US corn crop was in the dough stage by August 30, with 62% dented and 13% listed as mature. Condition ratings were steady at 47% in good to excellent condition.

Monday morning's Export Inspections report revealed a significant increase in corn shipments, up 13.11% from the previous week and 6.12% above the same period last year. Mexico was the largest destination for corn exports, followed by South Korea and Japan.