|
Corn Falling to Start Monday![]() The corn market is falling lower on Monday morning, down 6 to 7 cents. Corn futures closed Friday with contracts mixed, as nearbys were up 1 ½ cents and new crop December down ¾ cent. May was down 3 ½ cents on the week. Preliminary open interest was down 44,704 contracts on Friday, mostly in the May (-53,441) ahead of first notice day this week. The nearby CmdtyView national average Cash Corn price was up 1 1/2 cents at $4.52 3/4. USDA reported a private export sale of 235,000 MT of corn to Mexico on Friday morning, with 130,000 MT for 2024/25 and 105,000 MT for 2025/26. CFTC Commitment of Traders data showed spec funds pulling back from their net long position by 11,768 contracts in the week ending on April 22. They took that net long to 112,805 contracts by Tuesday. Export Sales data has total corn commitments now reaching 57.734 MMT, which is 26% above the same time last year. That is 89% of USDA’s projection, behind the 92% average export sales pace. May 25 Corn closed at $4.78 3/4, up 1 1/2 cents, currently down 6 3/4 cents Nearby Cash was $4.52 3/4, up 1 1/2 cents, Jul 25 Corn closed at $4.85 1/2, up 1 1/2 cents, currently down 6 3/4 cents Dec 25 Corn closed at $4.55 3/4, down 3/4 cent, currently down 6 3/4 cents New Crop Cash was $4.18 3/8, down 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. |
|