Corn Starting Monday with Gains

Corn price action is up 3 to 4 cents early on Monday morning. Futures posted mixed trade, with contracts down ½ cent to 2 cents higher. Mar was up 6 ¼ cents on the week, with December up 7 ¼ cents. Open interest was down 20,505 contracts on Friday, with a majority (51,997) coming in May. The CmdtyView national average Cash Corn price was down 1/2 cent at $4.20 3/4.

Commitment of Traders data showed spec funds with a total of 24,923 contracts added back to their net long position in the week ending on April 21. That took their net long to 184,406 contracts.

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Export Sales data has corn export commitments totaling 74.1 MMT as of April 16, a 28% increase from the same time last year. That is 88% of USDA’s export projection and behind the 92% average.

A South Korean importer purchased 65,000 MT od wheat in a private deal late on Friday.

May 26 Corn  closed at $4.55, down 1/2 cent, currently up 3 1/2 cents

Nearby Cash  was $4.20 3/4, down 1/2 cent,

Jul 26 Corn  closed at $4.63 1/2, down 1/4 cent, currently up 4 cents

Dec 26 Corn  closed at $4.84 1/4, up 3/4 cent, currently up 3 1/4 cents

New Crop Cash  was $4.41, 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