Corn Eases Above Early Financial Lows as Trade Data Expected Monday
Corn futures gained modestly during Friday’s session, closing 10‑15 cents below earlier weekly lows while staying steady near the previous close. December contracts posted a quarter‑cent rise for the week, lifting the nationwide cash corn average to $4.84 per bushel.
Minimal release was provided Friday concerning announcements pending between U.S. and Chinese officials. Reports indicated U.S. Trade Representative Grayson Greer was seeking additional details to be issued on Monday.
Heavy precipitation persists in the forecast through the coming week across Texas to the Great Lakes region. One to up to four inches are expected along the corridor from Texas through the Ohio Valley, with Ohio and an area east of the Ohio River projected to receive lower totals.
Managed‑money figures from the CFTC show that hedge funds trimmed their net long positions in corn futures and options by 12,405 contracts as of September 22, leaving a total long exposure of 414,437 contracts.
Exports reported April 25 brought total corn export commitments to 18.238 MMT, down 29 % versus a year‑over‑year benchmark. This figure remains at 22 % of the USDA projection and lags the 29 % average sales pace.
December 26 closed at $5.28 ¼, up three‑tenths of a cent; the corresponding cash settlement rose to $4.84 ₁, climbing one cent.
Nearby cash prices recorded a steady increase, moving from $4.80 ½ on March 27 (half‑cent gain) to $5.48 ¾ on May 27 (another half‑cent advance).
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