Corn futures are extending the gains from Monday to Tuesday’s midday, with 1 to 2 cent gains. The CmdtyView national average Cash Corn price is up 1 3/4 cents at $4.08 ½.
Total export sales commitments are now at 50.538 MMT, which is now 30% larger than the same period last year. That is 62% of USDA’s estimate for the full marketing year and is ahead of the 60% average pace.
Commitment of Traders data from Monday afternoon showed managed money flipping back to a net short position of 23,584 contracts in corn futures and options as of December 30. That was a move to the short side of 26,343 contracts
Mar 26 Corn is at $4.46 1/4, up 1 3/4 cents,
Nearby Cash is at $4.08 1/2, up 1 3/4 cents,
May 26 Corn is at $4.54, up 2 cents,
Jul 26 Corn is at $4.60, up 1 3/4 cents,
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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