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Corn prices increased slightly on Monday morning, with futures showing a gain of up to 2 cents. Last Friday, March futures closed with a 3-cent loss, and the national average cash corn price was reported at $3.99 1/4, down 2 ¼ cents.
As of October 28, managed money reduced its net short position by 71,479 contracts to a total of 89,506 contracts, while commercials increased their net short position by 77,722 contracts to 128,585 contracts. The USDA is expected to report 1-2 MMT of corn bookings for the week ending November 6.
Analysts forecast U.S. corn ending stocks at 2.145 billion bushels, a decrease of 9 million bushels from the previous November report. Additionally, Argentina’s corn crop is estimated to be 44% planted, trailing behind last year’s 46%, and Brazil’s AgRural projects a 135.3 MMT corn crop for 2025/26, a decline of 5.8 MMT from the previous year.
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