Corn futures rallied into the Labor Day weekend with contracts up 10 to 12 ½ cents as some money flow gave the bulls a boost to end the month. December closed the week 8 /4 cents higher, helped by the Friday move. The CmdtyView national average Cash Corn price was up 17 1/4 cents at $3.84. The market will be closed on Monday due to the Labor Day holiday, with a normal open on Monday night for the Tuesday session.
Commitment of Traders data showed spec traders in corn futures and options cutting their large net short position by 33,964 contracts to 110,686 contracts as of Tuesday. Much of that came via short covering, with the number of shorts down 21,103 contracts. Commercials increased their net short position by 29,494 contracts to 87,239 contracts as of August 26th.
