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Corn futures closed the Friday session with most contracts fractionally to 2 ½ cents higher, shrugging off early weakness. July was an exception, down ¼ cent. The CmdtyView national average Cash Corn price was up 1/2 cent at $4.12 3/4. Crude oil fell $9.12 on the day following Iran agreeing to open the Strait of Hormuz this morning.
Weekly Commitment of Traders data showed managed money slashing 59,149 contracts from their net long position in the week ending on April 14, mainly via new short interest. That took the net long to 159,483 contracts of futures and options.
Export Sales data from Thursday morning took corn export commitments to 72.79 MMT as of April 9, up 29% from a year ago. That is 87% of the USDA export projection for 2025/26, which is lagging from the 90% average pace. Shipments are now 50.52 MMT, 60% of USDA’s number, and ahead of the 56% pace.
May 26 Corn closed at $4.48 3/4, up 1/4 cent,
Nearby Cash was $4.12 3/4, up 1/2 cent,
Jul 26 Corn closed at $4.57 1/2, down 1/4 cent,
Dec 26 Corn closed at $4.77, up 1/4 cent,
New Crop Cash was $4.34 1/1, up 1/4 cent,
