Corn: September futures were down $0.03 today. For the week, corn has declined $0.13. The decline was primarily caused by the enactment of a 25% tariff on $50 billion worth of Chinese imports. Going forward, weather should dictate market prices as the crop year progresses. Planting progress for continues to march forward with 92% of the crop having been planted as of 5/27/2018 with 72% having already emerged. The current crop rating is 79% good-to-excellent. Locally, new crop basis for corn averaged -$0.08 as of today’s market close.
West Tennessee Grain Bids can be viewed here: West Tennessee Grain Bids 6-1-2018