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Corn futures closed the Tuesday session with fractional losses, weighted down by losses in wheat. The weekly EIA report will be released on Wednesday morning. The US cash average price as of Monday afternoon was $3.36 1/2 according to DTN, 1 3/4 cents off the same time last year. That would put the national average basis at -30 1/2 cents, 6 3/4 cents stronger than a year ago. Dr. Michael Cordonnier trimmed his projected Brazil 17/18 corn production number another 2 MMT to 86 MMT. That is 9 MMT below the February USDA estimate.

Mar 18 Corn closed at $3.66 3/4, down 1/4 cent,

May 18 Corn closed at $3.74 1/4, down 1/2 cent,

Jul 18 Corn closed at $3.82, down 1/2 cent

Sep 18 Corn closed at $3.88 1/2, down 3/4 cent

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