Corn price action is down 2 to 3 ½ cents as trade resumes on Tuesday morning. Futures posted fractional gains on Friday, as March managed to close the week with a 1 ½ cent gain. Preliminary open interest was up 5,808 contracts on Friday. The CmdtyView national average Cash Corn price was up 3/4 cent at $3.98 1/4.
Large managed money speculators were trimming 20,576 contracts from their net short position as of February 10, with a net short of 48,210 contracts on Tuesday.
Export Sales data from Thursday now has corn commitments of shipped and unshipped sales at 60.805 MMT, which is up 31% from last year. That is 73% of the full year USDA export projection, matching the average pace.
Brazil’s first corn crop was estimated at 22% harvested as of Thursday according to AgRural, now behind the 29% pace from last year. Second crop planting is now at 31% complete, below the 36% pace in 2025.
Mar 26 Corn closed at $4.31 3/4, up 1/2 cent, currently down 2 3/4 cents
Nearby Cash was $3.98 1/4, up 3/4 cent,
May 26 Corn closed at $4.42, up 1/4 cent, currently down 3 1/4 cents
Jul 26 Corn closed at $4.50, up 1/4 cent, currently down 3 1/4 cents
On the date of publication, Austin Schroeder 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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