Corn futures are showing losses of 3 to 3 ¼ cents in the front months on Tuesday. The CmdtyView national average Cash Corn price is down 3 1/4 cents to $3.92 1/2. Pressure is coming from losses in wheat and crude oil dropping $1.42/barrel at midday.
Another update to the backlogged CFTC data on Monday afternoon showed managed money flipping back to a net short of 10,872 contracts in the week ending on November 25 a move of 48,999 contracts to the short side.
EIA data will be released on Wednesday with some expecting ethanol production to be steady to slightly lower than last week.
Mar 26 Corn is at $4.36 1/2, down 3 1/4 cents,
Nearby Cash is at $3.92 1/2, down 3 1/4 cents,
May 26 Corn is at $4.44 3/4, down 3 cents,
Jul 26 Corn is at $4.50 3/4, down 3 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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