Corn Mar '22 (ZCH22)
Corn Futures Market News and Commentary
Corn price action is up 1 ¾ to 2 ¼ cents in the front months so far on Monday morning. Futures rounded out the week in rally mode, as contracts were up 5 to 11 ¼ cents across the board on Friday September rallied 20 cents on the week with December up 21 ¼ cents. Open interest was up 10,138 contracts on Friday, suggesting new buying interest. The CmdtyView national average Cash Corn price was up 11 3/4 cents at $4.30.
The ProFarmer Crop Tour begins this week, with some in the trade watching to see some yield results from boots on the ground.
Weekly CFTC data tallied managed money spec traders in corn futures and options at a net long of 166,770 contracts by 8/11. That was a 15,176 contracts reduction on the week, mainly coming from new short interest.
Export Sales data has old crop corn sales at 87.503 MMT, which is 104% of the USDA number and ahead of the last few years’ pace. Accumulated shipments are 80.066 MMT, or 95% of the USDA export projection. New crop cor... Read more
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