Corn Mixed on Tuesday’s Midday
Corn futures are trading with September up 1 ¼ cents and other contracts fractionally lower at midday. Preliminary open interest showed a rotation of ownership, up 851 contracts on Friday. The CmdtyView national average Cash Corn price is down 8 1/2 cents at $3.75 1/2.
USDA tallied corn export shipments at 1.407 MMT (55.39 mbu) during the week ending on August 28. That was up 5.12% from last week and 45.58% above the same week last year. Of that total, 445,724 MT was headed to Mexico, with 290,727 MT on its way to Japan and 247,097 MT to Colombia. Marketing year exports have totaled 66.966 MT (2.636 bbu), which is 28.61% above the same period last year.
Commitment of Traders data showed spec traders in corn futures and options cutting their large net short position by 33,964 contracts to 110,686 contracts as of Tuesday. Much of that came via short covering, with the number of shorts down 21,103 contracts. Commercials increased their net short position by 29,494 contracts to 87,239 contracts as of August 26th.
AgRural estimates the first crop corn at 7% planted in the center south region of Brazil as of last Thursday.
Sep 25 Corn is at $3.99 1/4, up 1 1/4 cents,
Nearby Cash is at $3.75 1/2, down 8 1/2 cents,
Dec 25 Corn is at $4.19 1/2, down 3/4 cent,
Mar 26 Corn is at $4.37 1/2, down 1/4 cent,
New Crop Cash is at $3.75 1/2, down 3 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions 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.