“Prices were $.04-$.05 lower today, unable to hold the higher start in the overnight session. Spreads were steady to weaker. Minimal threat for a damaging frost this weekend across the north-central Midwest with low temps likely to bottom out in the mid to upper 30s,” according to Mark Soderberg with ADM Investor Services. “Crop ratings slipped 2% to 69% G/E, in line with expectations. Overall ratings remain the highest since 2016. The highest rated states are PA, IA and WI. Allendale is projecting U.S. corn production at 16.63 bil. bu. with an average yield of 187.52 bpa. Usage for the production of ethanol in July ‘25 at 456 mil. bu. was at the low end of expectations and down 6% from YA. YTD corn usage for the 2024/25 MY has reached 4.978 bil. bu. To reach the USDA forecast of 5.470 bil. bu. usage in Aug-25 needs to reach 492 mil. bu. a record high for the month while up 2.6% from YA.”