Corn futures posted fractional gains on Friday, as March managed to close the week with a 1 ½ cent gain. The CmdtyView national average Cash Corn price was up 3/4 cent at $3.98 1/4. The markets will be closed on Monday for President’s Day.
Large managed money speculators were trimming 20,576 contracts from their net short position as of February 10, with a net short of 48,210 contracts on Tuesday.
Export Sales data from Thursday now has corn commitments of shipped and unshipped sales at 60.805 MMT, which is up 31% from last year. That is 73% of the full year USDA export projection, matching the average pace.
Mar 26 Corn closed at $4.31 3/4, up 1/2 cent,
Nearby Cash was $3.98 1/4, up 3/4 cent,
May 26 Corn closed at $4.42, up 1/4 cent,
Jul 26 Corn closed at $4.50, up 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. This article was originally published on Barchart.com
