Corn Fades Lower on Friday
Corn futures fell into the end of the month, with contracts down 1 ¼ to 4 cents on Friday. December was down 8 ¼ cents for the week and 53 cents for the month. The CmdtyView national average Cash Corn price is up ¼ cent at $4.14.
Acres left to be harvested may be slowed after the weekend, with the NOAA 7-day QPF showing upwards of 1-2 inches across much of the country in the latter half of that period.
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The average close for December corn futures in October was $4.75, which sets the harvest price option for crop insurance.
Friday’s Commitment of Traders report showed managed money and corn futures and options cutting another 90,314 contracts from their net long as of Tuesday. They were net long just 55,943 contracts on October 27th, as there was mix of new short interest and longs liquidating.
USDA’s Export Sales report from Thursday shows 2026/27 corn commitments at 23.496 MMT, which is 34% below last year. That is just 28% of USDA’s Export projection and lags the 5-year average of 39%.
A couple South Korean importers purchased a total of 340,000 MT in tenders on Friday. The Buenos Aires Grain Exchange estimates the Argentina corn crop at 47.3% planted, well above the average pace near 33%.
Dec 26 Corn closed at $4.47 3/4, down 3 1/2 cents,
Nearby Cash was $4.14 1/1, up 1/4 cent,
Mar 27 Corn closed at $4.61, down 3 3/4 cents,
May 27 Corn closed at $4.69, down 4 cents,
Dec 27 Corn closed at $4.87 1/2, down 1 1/2 cents,
New Crop Cash was $4.44 5/8, up 3/4 cent,
On the date of publication, Austin Schroeder did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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