Corn futures closed Friday’s session with most contracts slightly up 2.5 cents, ignoring early weakness. July was an exception, with a drop of ¼ cent. CmdtyView’s national average cash corn price rose 1/2 cent to $4.12 3/4. Crude oil fell $9.12 the day after Iran agreed to open the Strait of Hormuz this morning.
Weekly data on trader commitment showed that managed money trimmed 59,149 contracts from its net long position in the week ending April 14, primarily through new short interest. That brought the net long to 159,483 futures and options contracts.
Thursday morning’s export sales data brought corn export commitments to 72.79 MMT as of April 9, up 29% from a year ago. This represents 87% of the USDA’s export projection for 2025/26, which is behind the average pace of 90%. Shipments are now at 50.52 million tons, 60% of the USDA number and ahead of the 56% pace.
On May 26, corn closed at $4.48 3/4, up 1/4 cent.
Nearby cash was $4.12 3/4, up 1/2 cent,
July 26 Corn closed at $4.57 1/2, down 1/4 cent.
On December 26, corn closed at $4.77, up 1/4 cent.
New Crop Cash was $4.34 1/1, up 1/4 cent,
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com