Corn Futures Dip Slightly as Market Adjusts
At midday on Tuesday, the corn market is experiencing minor losses, with futures barely recovering from earlier lows. During the overnight trading session, there were 111 deliveries against December corn futures, all executed by an R.J.O customer. According to cmdtyView, the national average Cash Corn price has decreased by ¼ cent, now sitting at $4.04 1/4.
USDA Report Highlights October Ethanol Production
The USDA’s recent Grain Crushing report indicates that 460.49 million bushels of corn were utilized for ethanol production in October. This marks a decline of 0.4% compared to last year, but shows a 3% increase from the same month a year ago.
Spec Funds Trim Positions Ahead of Market Shift
According to delayed Commitment of Traders data, speculative funds have adjusted their positions in corn futures and options, reducing their net long holdings by 17,410 contracts as of November 26. They now hold a net long of 97,442 contracts.
Current Corn Prices
Dec 24 Corn is priced at $4.24 1/4, down 1/4 cent.
Nearby Cash stands at $4.04 1/4, also down 1/4 cent.
Mar 25 Corn is at $4.32 1/4, down 1/4 cent.
May 25 Corn is trading at $4.37 3/4, which is down 1 1/4 cents.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
