Corn futures experienced a mixed close on Friday, with front-month contracts down ½ to 2 cents and deferred contracts for the 2027 crop steady to a penny higher. July options expired on the same day, with July futures decreasing by 4¾ cents over the week, and December futures down by 2½ cents. The CmdtyView national average cash corn price fell by 1¾ cents to $3.85¼.
As of June 23, CFTC data indicated that managed money increased their net short position in corn futures and options by 23,264 contracts, driven by an increase of 37,052 outright shorts. A USDA acreage report expected on Tuesday anticipates 95.1 million acres of corn, according to a Bloomberg survey. Additionally, USDA Export Sales data revealed that 84.667 million metric tons (MMT) of corn were sold for the 2025/26 crop year as of June 18, matching the USDA’s export projection and surpassing recent years’ sales pace.
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