Corn futures posted fractional gains on Friday, as March managed to close the week with a 1 ½ cent gain. The CmdtyView national average Cash Corn price was up 3/4 cent at $3.98 1/4. The markets will be closed on Monday for President’s Day.
Large managed money speculators were trimming 20,576 contracts from their net short position as of February 10, with a net short of 48,210 contracts on Tuesday.
Export Sales data from Thursday now has corn commitments of shipped and unshipped sales at 60.805 MMT, which is up 31% from last year. That is 73% of the full year USDA export projection, matching the average pace.
Mar 26 Corn closed at $4.31 3/4, up 1/2 cent,
Nearby Cash was $3.98 1/4, up 3/4 cent,
May 26 Corn closed at $4.42, up 1/4 cent,
Jul 26 Corn closed at $4.50, up 1/4 cent,
