**Corn Futures Update – April 14, 2023**
Corn futures mostly increased on April 14, with prices rising up to 2.5 cents, except for July contracts which fell by 0.25 cents. The CmdtyView national average Cash Corn price rose by 0.5 cents to $4.12 ¾. Crude oil prices dropped significantly, down $9.12, following Iran’s agreement to open the Strait of Hormuz.
The latest Commitment of Traders report indicated a reduction of 59,149 contracts in managed money’s net long position for the week ending April 14, bringing the net long to 159,483 contracts. Additionally, corn export commitments reached 72.79 million metric tons (MMT) as of April 9, marking a 29% increase from the previous year and constituting 87% of the USDA’s export projection for 2025/26. Shipments totaled 50.52 MMT, representing 60% of USDA’s forecast and surpassing the 56% pace.
