Corn futures closed higher on Monday on a rebound from oversold technicals and a unwinding out of the beans to corn ratio spread. Favorable crop weather continues in the U.S. Midwest corn belt with only slight occurrences of hot weather, which will be mostly confined to the west and south. Basis continues to improve through the region as producer selling remains extremely light. Good to excellent ratings on corn steady this week at 71%, compares to 64% LY. Soybean shed 1% in good and gained 1% in excellent to stay unchanged at 66% good to excellent.
Chris Spurlock
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