Market Report: Corn Firmer, Beans Lower

Corn did not trade far from unchanged today and closed up about a penny. Export Loadings for corn were reported by the USDA at 975,985 MT. Down slightly from last week and last year. In the Crop Progress the USDA released corn planting at 95 percent as the crop is rated 74 percent good to excellent. That is unchanged from last week.

Beans were weaker in the overnight session, opened lower this morning and closed 4-8 cents lower. Export loadings were at 73,190 MT, which was quite a bit lower than last week at 302,193 MT. The USDA reported that 71 percent of the beans are planted compared to the five-year average of 70 percent. It did not help today either that the Dollar Index was higher. I read on Pro Farmer that the funds sold around 4,000 contracts, which represents 20 million bushels.