Corn futures declined on Friday, with December contracts down by 2 ¾ cents, closing at $5.27 ½. The CmdtyView national average cash corn price also fell by 3 cents to $4.82 ¼. This drop was influenced by significant losses in soybean and wheat prices, alongside declines in crude oil.
As of September 15, managed money increased their net long position in corn futures and options by 1,671 contracts, totaling 426,842 contracts. However, export commitments for the 2026/27 corn season stood at 17.4 million metric tons, down 27% from the previous year and only 21% of the USDA’s projected export total.
In related activity, South Korean importers secured a total of 130,000 metric tons of corn in recent tenders, following a purchase of 260,000 metric tons earlier this week.
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