Corn futures are trading with 3 to 4 ½ cent gains across most contracts on Thursday. The CmdtyView national average Cash Corn price is up 3 3/4 cents to $3.99 1/2.
Export Sales data was updated for the week of 11/27 this morning, with 1.792 MMT sold in that week, on the higher side of trade estimates of between 1-2 MMT of corn sales. That ws a 3-week low but still 3.5% above the same week last year.
Commitment of Traders data, now as of December 2, showed spec funds adding back 34,142 contracts to the long side in that week, mainly on short covering. That flipped their net position to long in corn futures and options to 23,270 contracts as of that date.
Mar 26 Corn is at $4.44 1/4, up 3 3/4 cents,
Nearby Cash is at $3.99 1/2, up 3 3/4 cents,
May 26 Corn is at $4.52, up 4 1/4 cents,
Jul 26 Corn is at $4.58, up 4 1/2 cents,
