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Corn futures closed 2-4 cents lower on Friday afternoon. On the weekly board, Sept 15 corn fell by 21 1/2 cents, a change of -5.8%. Dec corn is down 54 3/4 cents off the July 1 high. The weekly CFTC report tonight shows that managed money accounts reduced their net long position by 36,864 contracts as of Tuesday, to a new net long of 242,801 contracts. USDA reported under the daily system that 108,204 MT (72,136 MT for 15/16 delivery) of corn was sold to Mexico this morning. The remaining 36,068 MT are booked for 16/17 delivery. The International Grains Council increased its Chinese corn production estimates by 5 MMT to 225 MMT (USDA: 229 MMT).
Sep 15 Corn closed at $3.71, down 2 1/4 cents,
Dec 15 Corn closed at $3.81 1/4, down 2 1/2 cents,