The corn market is trading with contracts up 2 to 5 cents. Corn futures closed out the Friday session on a weaker note, with contracts down 3 to 5 cents. July slipped back 6 ¼ cents on the week, with December falling in unison and down 6 ½ cents. The front month CmdtyView national average Cash Corn price was down 4 1/2 cents at $4.15 ½.
The Friday afternoon Commitment of Traders report from CFTC showed the managed money spec funds flipping from a net long to a new net short position of 84,976 contracts. That was a bear move of 98,869 contracts during the week that ended on May 13.
Export Sales data has total commitments now at 62.088 MMT, which is 94% of the USDA export projection that was raised on Monday. Normally, export bookings are 95% of that projection by now. Actual exports via FAS are 45.015 MMT, which is 68% of that USDA number and ahead of that average 66% pace.
Jul 25 Corn closed at $4.43 1/2, down 5 cents, currently up 4 1/2 cents
Nearby Cash was $4.15 1/2, down 4 1/2 cents,
Sep 25 Corn closed at $4.21 1/2, down 3 1/2 cents, currently up 3 cents
Dec 25 Corn closed at $4.35 1/2, down 3 1/4 cents, currently up 2 1/2 cents
New Crop Cash was $3.93, down 3 cents,
