Corn (P) March 2012 (CH12)

Corn futures were unchanged on the spot month and higher on the other contracts at the close today. For the week corn was down 57 cents on the spot month. The weekly CFTC report showed Managed Money had increased their net long in corn by 25,355 contracts from the previous week. June serial options expired today. The long range weather forecast is calling for a warmer and dryer pattern for the first week of June for most states west of the Mississippi River to the west coast. Gulf basis levels were lower. The U.S. dollar was up 1.116 for the week. Crop ratings will be out on Tuesday following the Memorial Day holiday.

Jul 12 Corn closed at $5.78 1/2, unch,
Sep 12 Corn closed at $5.26 1/2, up 8 1/4 cents,
Dec 12 Corn closed at $5.21 1/2, up 6 1/2 cents
Dec 12 Corn closed at $5.21 1/2, up 6 1/2 cents