Corn Futures are slipping lower on Tuesday’s midday, as contracts are down 1 ¾ to 5 cents across much of the front month action. Tuesday is first notice data for May corn futures, with no deliveries issued. The CME is reducing corn’s daily price limits by a nickel on May 1 to 30 cents.

Weekly Crop Progress data showed quite a bit of planting getting done ahead of the rain late last week with 27% of the crop in the ground by Sunday. That was up 15% on the week and is 5% ahead of the 5-year average. Of the major states, IN was 5% behind normal planting pace, with NE 1% below normal, as OH and IL were even with the average pace. IA was repored 11% faster than normal, with MO 23% above the 5-year average pace and MN running 12% ahead of pace. The US crop was also 7% emerged, with the average pace at 4%.

May 24 Corn is at $4.37 1/2, down 1 3/4 cents,

Nearby Cash is at $4.22 1/4, down 3 cents,

Jul 24 Corn is at $4.45 1/4, down 4 cents,

Dec 24 Corn is at $4.68, down 4 3/4 cents,

New Crop Cash is at $4.31 1/2, down 5 3/8 cents,