Corn price action is fractionally to 2 cents higher so far on Monday morning. Futures posted losses of a penny to 2 ½ cents on Friday, with March closing the week with a 3 cent loss. Friday’s open interest was up 8,511 contracts. The CmdtyView national average Cash Corn price was down 2 ¼ cents on the day at $3.99 1/4.
Commitment of Traders data from Friday afternoon showed managed money slashing 71,479 contracts from their net short position as of October 28. That took the position to 89,506 contracts. Commercials were trimming longs and adding shorts, increasing their net short by 77,722 contracts to 128,585 contracts
