Corn Slipping to Start Monday
Corn is showing fractional to 2 cent losses early on Monday. The corn market closed out the Friday session with contracts up 1 to 3 cents across the front months. May was up 7 cents last week despite all the tariff talk. New crop December was down ¾ cent, with a gain of 4 ¼ cent since the previous Friday. Preliminary open interest was down 10,702 contracts on Friday. The CmdtyView national average Cash Corn price was up 3 3/4 cents on the day at $4.31 3/4.
Weekly Commitment of Traders data showed managed money in corn futures and options cutting back another 17,850 contracts from their net long position in the week of April 1. The net long was just 56,757 contracts as of Tuesday. Commercials saw longs increasing, with the net short down 32,261 contracts to 336,744 contracts.
Brazil’s first corn crop was pegged at 88% harvested as of Thursday and ahead of the 78% last year according to AgRual
May 25 Corn closed at $4.60 1/4, up 2 3/4 cents, currently down 1/2 cent
Nearby Cash was $4.31 3/4, up 3 3/4 cents,
Jul 25 Corn closed at $4.67 1/4, up 1 3/4 cents, currently down 1/4 cent
Dec 25 Corn closed at $4.46 3/4, down 3/4 cent, currently down 1 3/4 cents
New Crop Cash was $4.10 7/8, down 1/4 cent,
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.