Corn Market Sees Modest Gains Amid Tariff Concerns

The corn market concluded the Friday session with contracts rising between 1 to 3 cents across the front months. Notably, May contracts gained 7 cents this week, despite ongoing discussions regarding tariffs. However, new crop December contracts faced pressure from soybean losses, managing a gain of just 4 ¼ cents since last Friday. The CmdtyView national average cash corn price increased by 3 3/4 cents on the day, settling at $4.31 3/4.

Trader Positions Show Adjustments

Recent Weekly Commitment of Traders data indicates that managed money has reduced their net long position in corn futures and options, cutting back by 17,850 contracts as of April 1. The current net long stands at 56,757 contracts as of Tuesday. In contrast, commercial positions have seen an increase in longs, with the net short declining by 32,261 contracts, now totaling 336,744 contracts.

Export Sales Reflect Growing Commitments

The latest Export Sales data reports total commitments at 54.235 million metric tons (MMT), marking a notable improvement of 24% compared to the same period last year. Currently, these commitments represent 87% of the USDA’s export forecast, aligning with an average pace of 88%.

Market Close Data

May 25 Corn closed at $4.60 1/4, a rise of 2 3/4 cents.

Nearby Cash was reported at $4.31 3/4, up 3 3/4 cents.

Jul 25 Corn ended at $4.67 1/4, increasing by 1 3/4 cents.

Dec 25 Corn closed at $4.46 3/4, down by 3/4 cent.

New Crop Cash was at $4.10 7/8, a decrease of 1/4 cent.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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