Fractionally Mixed Corn Market

After trading higher overnight, the morning corn market is fractionally mixed, but mostly lower. Corn futures rebounded on Friday. After the dust settled Dec futures ended 1 1/2 cents net positive for the week.  There have still be zero delivery notices against September corn futures. The oldest long is still dated 9.27.21.

CFTC data showed managed money corn traders were buying corn through the week that ended 8/30. They added 30.4k contracts on top of 8.8k fewer shorts for a 39,251 contract stronger net long position of 221,467 contracts. Commercials were lifting hedges through the week, with a net 46,200 fewer open contracts as of 8/30. They closed more longs than shorts and expanded their net short to 449,986 contracts. 

French corn ratings were 45% good/very good as of 8/29 according to France AgriMer. That was down from 47% last week. 

Trade opinion is mixed for crop ratings, expecting NASS to show anything from a 1% drop to a 1% improvement in the 18-state good/excellent ratings compared to last week. 

Sep 22 Corn  closed at $6.69, up 10 3/4 cents, currently up 3/4 cents

Nearby Cash   was $6.72 5/8 on Friday, up 17 1/2 cents,

Dec 22 Corn  closed at $6.65 3/4, up 7 3/4 cents, currently down 1 cents

Mar 23 Corn  closed at $6.71 1/4, up 7 1/2 cents, currently down 1/2 cent