Corn Sep '23 (ZCU23)
Corn Futures Market News and Commentary
Corn futures closed the Friday session mixed, with front months down ½ to 2 cents and deferred contracts for the 2027 crop steady to a penny higher. July options expired today, with first notice day on Tuesday. July futures were down 4 ¾ cents this week, with December down 2 ½ cents. The CmdtyView national average Cash Corn price was 1 3/4 cents lower at $3.85 1/4.
CFTC data showed managed money adding another 23,264 contracts to their net short position in corn futures and options the week ending on June 23. That came via new short interest, with the outright shorts up 37,052 contracts.
Acreage data will be updated on Tuesday from NASS, with traders looking for 95.1 million corn acres according to a Bloomberg survey.Â
USDA’s Export Sales data showed 84.667 MMT of corn sold for 2025/26 as of June 18. That is now 100% of the USDA export projection and ahead of the last several years’ pace. Actual shipments were 67.81 MMT, 80% of the USDA estimate. Total accumulated... Read more
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