US corn futures on the Chicago Board of Trade were called to open up 3 to 4 cents a bushel on Tuesday as slow crop development could lead to lower corn yields, traders said. Calls were in line with the trend during Asian trading hours, up 2 to 4 cents.
Both planting progress and emergence were behind. USDA late Monday said 73 percent of the corn crop was seeded, near the low end of trade expectations and below 88 percent for the seasonal average. Corn emergence was 26 percent vs the five-year average of 56 percent, due to the cool, wet spring.
Comments
Comments are closed.