Corn Starting Monday with Fractional Losses
Corn price action is just fractionally lower this morning. Futures closed the Friday session with contracts down 4 to 6 cents across most nearbys, as December expired. March settled last week with a 4 cent loss. Friday’s open interest was up 17,121 contracts. The CmdtyView national average Cash Corn price was down 5 1/2 cents at $3.96 3/4.
Export Sales data will get another catchup this morning, with traders looking for 1.1-2.2 MMT in corn sales during the week ending on 11/20.
CFTC data was released on Friday afternoon showing data for the week ending on November 18, with managed money flipping to a net long of 38,127 contracts. That was a 77,650 contract move on the week. Another update will be released this afternoon.
Nearby Cash was $3.96 3/4, down 5 1/2 cents,
Mar 26 Corn closed at $4.40 3/4, down 5 3/4 cents, currently down 1/2 cent
May 26 Corn closed at $4.49, down 5 1/4 cents, currently 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.
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