New crop futures stayed in the red through most of the session, while new crop corn saw an afternoon bounce. Ultimately both the May and July futures were within 3 cents of their session high at the close, up by 9 and 3 1/2 cents respectively. New crop futures ended the last trade day of the week 2 to 3 cents in the red. December futures ended the week with a 20 1/4 cent loss.Â
The weekly Commitment of Traders report showed managed money firms had flipped back to net short as of 4/25. That came via 30k fewer open longs and 35k new spec shorts in play. Commercial corn traders closed 67k short hedges for a 181,427 contract net short.Â
The EPA is set to announce an E15 waiver for use from June 1 through Sep 15. USDA quoted the weekly the weekly ethanol cash prices from $2.21 to $2.40/gal regionally, mostly 1 to 7 cents weaker. DDGS were shown $-25 to $+18/ton for the week from $245 to $295 regionally. The weekly update had regional corn oil prices from 54 to 56 cents/lb, within 2 cents of last week.Â
May 23 Corn  closed at $6.36, up 9 cents,
Nearby Cash  was $6.18 7/8, up 5 3/8 cents,
Jul 23 Corn  closed at $5.85, up 3 1/2 cents,
Dec 23 Corn  closed at $5.27 3/4, down 3 cents,
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. For more information please view the Barchart Disclosure Policy here.
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