Corn futures are extending the gains from Monday to Tuesday’s midday, with 1 to 2 cent gains. The CmdtyView national average Cash Corn price is up 1 3/4 cents at $4.08 ½.
Total export sales commitments are now at 50.538 MMT, which is now 30% larger than the same period last year. That is 62% of USDA’s estimate for the full marketing year and is ahead of the 60% average pace.
Commitment of Traders data from Monday afternoon showed managed money flipping back to a net short position of 23,584 contracts in corn futures and options as of December 30. That was a move to the short side of 26,343 contracts
Mar 26 Corn is at $4.46 1/4, up 1 3/4 cents,
Nearby Cash is at $4.08 1/2, up 1 3/4 cents,
May 26 Corn is at $4.54, up 2 cents,
Jul 26 Corn is at $4.60, up 1 3/4 cents,
