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On September 25, 2023, corn prices fell, with September contracts closing at $3.99, down 3/4 cent. Nearby cash prices also dropped to $3.73 ¼, down 2 cents. The December contract closed at $4.18, down 1 ¾ cents, while March 2026 contracts closed at $4.36 ½, down 1 cent.
U.S. export sales data indicated net reductions of 280,943 MT for old crop corn, a marketing year low, with new crop sales at 2.117 MMT—1.3% higher than the previous week and 16.2% above the same week last year. Notably, Mexico was the largest buyer, purchasing 511,800 MT.
The CFTC Commitment of Traders report on September 2 showed spec traders reducing their net short position in corn futures by 19,199 contracts, bringing it down to 91,487 contracts.
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