**Corn Market Update – August 31, 2023**
Corn prices experienced modest losses at the start of the last trading day of August, dropping by up to 1.5 cents. On Friday, futures reported gains, with September contracts settling at $5.12, increasing 1.75 cents, while December futures ended at $5.36. The Cash Corn price averaged $4.84 1/4, up 2.25 cents.
As of August 25, managed money increased their net long positions in corn futures and options by 126,008 contracts, bringing the total to 376,513 – the highest level since April 2022 but still below the 2006 record. Export sales commitments for the 2025/26 marketing year hit 87.758 million metric tons, surpassing USDA projections. Meanwhile, Safras & Mercado estimates Brazil’s 2026/27 corn crop at 145.6 million metric tons, exceeding the USDA’s 139 million metric ton estimate.
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