Corn Fall into Friday’s Close
Corn futures rounded out the Friday session with losses of 2 to 4 ¼ cents and near the session lows. December was down 11 ½ cents on the week. The national average Cash Corn price from cmdtyView is down 3 ½ cents at $3.68 ¼ per bu.
Commitment of Trader data showed specs in corn futures and options adding back just 2,680 contracts to their net short position as of September 17 to 134,814 contracts. Commercials were peeling back their net short position by 5,121 contracts to 102,228 contracts.
Thursday morning's Export Sales report indicated total export sale commitments for corn are now at 14.209 MMT, 21% larger than the same week last year. That is 24% of the USDA export projection, compared to the 30% average booking pace.
Overnight, a Taiwan buyer tendered for a total of 65,000 MT of corn. The Buenos Aires Grain Exchange pegged the Argentina corn crop at 7.1% planted, near the average pace.
Dec 24 Corn closed at $4.01 3/4, down 4 cents,
Nearby Cash was $3.68 1/4, down 3 1/2 cents,
Mar 25 Corn closed at $4.20, down 4 1/4 cents,
May 25 Corn closed at $4.31, down 4 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.