Corn futures experienced a decline during Friday’s trading session, with contracts falling 4 to 6 cents as December contracts expired. The March 2024 contract posted a 4-cent loss, closing at $4.40 3/4. The CmdtyView national average Cash Corn price was reported at $3.96 3/4, down 5 1/2 cents.
The USDA announced private export sales of 250,000 metric tons of corn for unknown destinations. Additionally, data from the CFTC for the week ending November 18 revealed a significant shift, with managed money moving to a net long position of 38,127 contracts, reflecting a change of 77,650 contracts for the week. Traders anticipate the release of more export sales data on Monday, expecting between 1.1 to 2.2 million metric tons in corn sales for the week ending November 20.
