Corn futures dropped on Tuesday with prices down 1 to 3 ¼ cents, resulting in the national average cash corn price falling 2 cents to $3.69 3/4. USDA’s Crop Progress report showed steady condition ratings at 71% good/excellent, with some states like IL, IA, and ND experiencing declines while others like MI, MO, and MN saw improvements.

Brazil’s August exports are expected to reach 7.8 MMT, a decrease of 0.25 MMT from previous estimates. Sep 25 Corn closed at $3.87 1/2, nearby cash was $3.69 3/4, Dec 25 Corn closed at $4.09 1/2, Mar 26 Corn closed at $4.26 1/2, and new crop cash was $3.67.

Read more at Yahoo Finance: Corn Eases Lower on Tuesday