Corn prices are down 1 to 2 cents across most front months on Monday morning. Futures held onto the losses across the front months on Friday, as contracts were fractionally to a penny lower. December was down 4 ¾ cents last week as the contract’s options expired on Friday.. First notice day is this Friday. Preliminary open interest was down 52,985 contracts on Friday, with 87,639 exiting December. The CmdtyView national average Cash Corn price was down a penny at $3.87 1/4.
USDA’s delayed 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 the year prior.
CFTC data from 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 as of that week.
Brazil’s first corn crop is estimated at 93% planted as of Thursday in the center south region according to AgRural, still lagging the 95% pace from last year.
Dec 25 Corn closed at $4.25 1/2, down 1 cent, currently down 1 3/4 cents
Nearby Cash was $3.87 1/4, down 1 cent,
Mar 26 Corn closed at $4.37 1/2, down 1/4 cent, currently down 1 1/2 cents
May 26 Corn closed at $4.44 3/4, down 1/2 cent, currently down 1 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.
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