Corn

Corn futures closed Friday steady to fractionally mixed, as July was down 1.11% on the week. The USDA reported a private export sale of 131,300 MT of corn to Mexico this morning. The sale was broke down to 30,000 MT for delivery in 2017/18, with the remaining 101,300 MT set for 2018/19 shipment. There was also a sale of 117,000 MT for 2018/19 to Panama reported through the USDA’s daily reporting system. The 6-10 day outlook is forecasting above average temps and precip in most of the Corn Belt. China sold 739,954 MT of corn from state reserves on Friday, totaling 18.64% of the offered amount. Friday afternoon’s Commitment of Traders report showed spec funds flipping their net position in the week that ended on Tuesday. On that date, they had a net short position of -14,038 contracts in corn futures and options, a move of -50,254 contracts from the week prior.

Jul 18 Corn closed at $3.57 1/4, up 1/4 cent,

Sep 18 Corn closed at $3.66 1/2, unch,

Dec 18 Corn closed at $3.78, down 1/4 cent

Mar 19 Corn closed at $3.87 1/2, down 1/4 cent




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