Corn Futures Market News and Commentary
Corn futures came all the way back from the Thursday sell off, and even gained some ground with futures closing 13 3/4 to 9 3/4 cents higher. March corn was 3 1/2 cents higher on the week. Rumors of Chinese purchases appeared right on schedule after the Thursday break. The Friday bulls will be looking for official confirmation on Monday. The CFTC released their Commitment of Traders report Friday afternoon showing spec trader positions were net short corn by 78,442 contracts on Tuesday Jan 14th. That was a weekly weakening of their position by 2,445 contracts, and weekly increase of 40,811 in spec trader open interest.
Mar 20 Corn closed at $3.89 1/4, up 13 3/4 cents,
May 20 Corn closed at $3.95 1/4, up 12 3/4 cents,
Jul 20 Corn closed at $4.01, up 12 cents,
Sep 20 Corn closed at $4.00 1/4, up 9 3/4 cents,
--- provided by Brugler Marketing & Management