The corn market closed higher on Friday, with December futures up 9 ½ cents for the week. Harvest should continue in the Western Corn Belt, with some areas experiencing lower yields. The Buenos Aires Grain Exchange reports that Argentina’s corn crop is 29.9% planted, ahead of last year’s pace.
December corn futures are averaging $4.18 in October, used for crop insurance. Prices are below February’s $4.70 but above last year’s $4.16. Dec 25 Corn closed at $4.22 1/2, Nearby Cash at $3.81 1/2, Mar 26 Corn at $4.36 1/2, and May 26 Corn at $4.45.
Harvest progress may slow due to rain in the Western Corn Belt, impacting river levels along the Mississippi. Yield results are mixed, with some below expectations. The corn market remains volatile, reflecting ongoing challenges in the sector.
Read more at Yahoo Finance: Corn Heads into the Weekend Higher
