Planting conditions are still weighing on corn futures. U.S. corn plantings reportedly were 19% complete on Sunday, which matched industry expectations. However, forecasts for extended dryness and surging short-term progress appears to be weighing on prices, since the industry expects plantings to zoom ahead this week. However, prices bounced around midsession, which may have reflected improved country bids. May corn futures edged up 0.25 cent to $3.61/bushel late Tuesday morning, while December skidded 0.75 to $3.825.
Last week, the National Corn Growers Association submitted comments to both the U.S. Department of Transportation and the U.S. Department of Commerce’s National Telecommunications and Information Administration about proposed rules regarding the commercial usage and privacy best practices of unmanned aerial systems (UAS).
Chipoltle Mexican Grill Inc. announced that the 46 different ingredients it will be using in the future are all free of genetically modified organisms (GMOs). This chain of 1,800 restaurants is the first large-scale chain of restaurants, fast food or sit down, to make this claim.
Topcon Positioning Systems announced it has received a national exemption from the Federal Aviation Administration (FAA) that allows for operation of its unmanned aerial system (UAS) in the United States. The exemption covers the operation of the Sirius Basic and Sirius Pro for aerial data collection.
According to the USDA’s latest Crop Progress report, nearly 20 percent of the nation’s corn has been planted as of April 26, 2015, compared to 17 percent last year, 9 percent last week, and the five-year average of 25 percent.