Corn futures maintained early losses on Friday, as contracts fell by a fraction to a cent. December was down 4 ¾ cents this week as options on the contract expired today. CmdtyView’s national average cash corn price fell one cent to $3.87 1/4.
The delayed USDA Grain Crushing report showed a total of 463.44 million bushels of corn used in ethanol production during August. That was a 1.2% increase from July, but down 3.36% from a year earlier.
CFTC data for the week of October 7 showed managed money with a net short position of 141,966 contracts in corn futures and options. That was an addition of 6,656 contracts from that week.
The Buenos Aires Grain Exchange estimates that Argentina’s corn crop is 37.3% planted, an increase of 0.7 percentage points on the week. That’s a delay from the same week last year. The harvest is classified 79% in categories from excellent to normal.
December 25 Corn closed at $4.25 1/2, down 1 cent.
Nearby cash was at $3.87 1/4, down 1 cent,
March 26 Corn closed at $4.37 1/2, down 1/4 cent.
On May 26, corn closed at $4.44 3/4, down 1/2 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