Corn Mar '23 (ZCH23)
Corn Futures Market News and Commentary
Corn futures slipped into the Friday close, with contracts steady to 1 ¾ cents higher on the day. July was down 4 ¾ cents this week, with December down 5 ¾ cents. The CmdtyView national average Cash Corn price was up 1 1/4 cents at $3.81.Â
The weekly CFTC Commitment of Traders report showed the largest 2 week (Tuesday/Tuesday) shift to the short side in the history of managed money in corn futures and option since the inception of the report in 2006 of 210,829 contracts. A total of 120,407 contracts were in the last week as of 6/9, with specs now net short 5,325 contracts. Of the shift, 92,863 contracts were new shorts, with longs only seeing 27,544 contracts of liquidation.
NOAA’s 7-day QPF shows precip totals expected in a range of 1.5 to 4 inches from MO to OH, with parts of eastern IA and WI seen with 1 to 2 inches. The western half of IA, MN, and much or the northern Plains west of the Missouri River is seen with little to 0 rainfall.
Export Sales data now has... Read more
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