Corn

Corn futures are currently 1 to 1 cents lower after retreating 2 to 3 cents on Friday. Last week, nearby May corn was down 2 1/4 cents. The CFTC report on Friday afternoon showed the managed money spec funds adding 34,700 contracts to their net long position in the week ending 4/10/18. China sold another 2.627 MMT of corn (from 2014) from state reserves on Friday, totaling 85.01% of the offered amount. There was also 301,850 MT of 2013 corn sold. The Argentine Ag Ministry estimates that the country’s corn harvest is 31% complete, compared to the average of 25% for this date. AgRural placed Brazil’s first crop harvest at 72% complete, lagging the average pace of 75%.




Market Commentary provided by:

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