Corn price action is down 3 to 4 ½ cents early on Monday, getting spillover weakness from soybeans. Futures found strength throughout the Friday session, as contracts closed 10-15 cents off the early lows and steady to a penny higher. December managed to post a ¾ cent gain on the week. Open interest was down just 848 contracts on Friday, mainly in the December contracts (-8,821 contracts). The CmdtyView national average Cash Corn price was up 1 cent at $4.84.
Following last week’s US/China meeting, China dropped tariffs on several US goods, including the tariff on corn.
