Corn futures firmed up on Friday for a fractionally UNCH close to the week. From Friday to Friday December futures traded in an 18 1/4 cent range, and went home 5 1/2 cents lower. The board has a 6 1/4 cent carry to March, but is otherwise now inverted with a 3/4 cent March premium to May, and a 6 1/4 cent May premium to July. The December to December spread was 59 3/4 cents at the close, compared to 60 3/4 cents las week.
Cash ethanol prices were lower by 1 to 10 cents/gal regionally through the week, with USDA showing prices from $2.20/gal in NE to $2.40/gal in IN. DDGS cash prices were mostly $5 to $15/ton lower from $210 (IN) to $340 (MO) regionally. Corn oil prices were within 5c/lb of last week’s quotes, from 72c to 76c per pound regionally.Â
The weekly CFTC data release on Friday had corn spec fund traders 254,261 contracts net long at the close on 10/18. That was a 13,116 contract lighter net long than the previous week, coming via open longs rolled to new shorts. Commercial corn hedgers closed out 35.9k contracts for a net 8,380 contract weaker net short of 455,253.Â
French corn was 92% harvested according to the FranceAgriMer, that is up from 83% last week and compares with just 30% last season.Â
Dec 22 Corn  closed at $6.84 1/4, up 1/4 cent,
Nearby Cash  was $6.73 3/8, down 5/8 cent,
Mar 23 Corn  closed at $6.90 1/2, up 1/2 cent,
May 23 Corn  closed at $6.89 3/4, down 1/4 cent,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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