Corn Dec '21 (ZCZ21)
Corn Futures Market News and Commentary
After Friday trading wrapped up, front month corn futures settled a penny to 3 1/2 cents lower. December corn futures were 2 1/4 cents lower, limiting the weekly gain to 9 3/4 cents from Friday to Friday. USDA reported the weekly average corn oil prices between 54.83 c/lb and 55.5 cents. DDGS prices were higher during the week, to between $208 and $227/ton in the Gulf and $245 - $255 FOB in the PNW.
CFTC data showed managed money was 212,229 contracts net long in corn as of 9/14. That was down 2,943 contracts from the previous week as spec long liquidation did not fully offset the spec short covering. Managed money OI was down 15,097 contracts wk/wk.
USDA’s weekly Grain Transport report noted barge corn transported during the week of 9/11 was just 28k MT. That compared to 275k MT for the same week in 2020. The 3-week average prior to Hurricane Ida was to see 372k MT of corn on barges along the Mississippi, Illinois, Ohio, and Arkansas rivers. The 3 week’s since average... Read more
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