Corn traders are finding very little fresh or new to talk about. The USDA reported corn "dented" at 93% vs. the 5-year average of 95%. Corn classified as "mature" was pushed higher to 51% but is still well behind last years 70% and the 5-year historical average of 64% by this date. Corn "harvested" was report at 11% vs. 14% last year vs. the 5-year average of 17%.

As you can see form the graphic I included below, most everyone in the Midwest is running behind their traditional harvest pace. As I've been reporting the past couple of weeks, as more producers get into the fields, I'm hearing more talk of "better than expected" yields. A few folks are talking about perhaps record setting production, but certainly not very many.

In fact most are still seeing the top-end off a bit, but just not as bad as they thought a month ago. I am starting to hear more talk of "quality" concerns form some of the production down South. From what I understand there's some fairly stiff penalties being handed out on corn being delivered with mold and toxin issues.

I don't know if those problems will work their way to the North, but I'm starting to hear a bit more buzz. I suspect with some of the pockets of heavy moisture and plenty of old-crop supply, there could be more penalties hand down from buyers than we have seen in the past. Make certain you are talking to your delivery points about any specific penalty charges that might be in the works..

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