Corn futures closed the Friday session with contracts pulling off noon lows however nonetheless down 2 to 4 cents. March was down 2 ¼ cents this week. The CmdtyView nationwide common Money Corn value was down 2 cents at $3.93 1/4. Outdoors markets performed a task on Friday, with the greenback index up $0.893.
Dedication of Merchants knowledge from CFTC confirmed managed cash speculators in corn futures and choices trimming 9,274 contracts from their web quick within the week ending on January 27. That primarily got here through new longs, as the online quick was at 72,050 contracts. Commercials noticed some lengthy discount, with the online quick rising 17,381 contracts to 187,342 contracts.
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Export Gross sales knowledge now has corn commitments at 57.694 MMT, which is 33% above the identical interval final yr. That can be 71% of the USDA export projection, forward of the 67% common gross sales tempo.
The Buenos Aires Grains Change estimates the Argentina corn crop at 46% good/glorious, lagging the 52% from final week however nonetheless higher than the 31% score final yr.
Mar 26 Corn closed at $4.28 1/4, down 2 1/2 cents,
Close by Money was $3.93 1/4, down 2 cents,
Could 26 Corn closed at $4.35 3/4, down 3 1/4 cents,
Jul 26 Corn closed at $4.42, down 3 3/4 cents,
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions.
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