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Barchart
Barchart
Austin Schroeder

Corn Seeing a Slight Monday AM Bounce

Corn price action is up 1 to 2 cents so far on Monday morning, recovering from Friday’s collapse. Futures were caught off-guard by a surprise hike to corn yield on Friday, as contracts closed with losses of 19 to 21 cents in the front months. December pulled nearly a dime off the limit losses, but still saw a weekly loss of 18 cents. Deferred contracts were down 3 to 8 cents on Friday. Open interest was down 11,574 contracts on Friday, with December down 25,477 contracts, and March up 5,157. The CmdtyView national average Cash Corn price was down 22 3/4 cents at $4.39.

The government will be closed for today due to the Columbus Day holiday, with the Export Inspections and Crop Progress reports pushed to Tuesday.

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