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Barchart
Barchart
Austin Schroeder

Corn Bulls Getting a Headstart with Monday Morning Rally

IN MO USDA United States

Corn futures are trading with 5 to 7 cent gains so far on Monday. Bulls found their footing on Friday following friendlier than expected USDA data. Contracts were up 2 ½ to 10 ¼ cents across the board, led by the front months. September was 16 ½ cents higher last week, with December up 19 ½ cents. Preliminary open interest was up 10,355 contracts on Friday, suggesting new buying interest. The CmdtyView national average Cash Corn price was 7 3/4 cents higher at $4.09 1/2.

Updated forecasts from the NOAA 7-day QPF shows little to no precipitation for an area ranging from the Dakotas, south through KS, as well as parts of MN, IA, IL, and MO, with trace totals in OH and IN.

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