Corn prices saw an increase of 3 to 4 cents on Monday morning, with mixed futures trading: May corn closed at $4.55, down ½ cent, and is currently up 3 ½ cents. December contracts rose 7 ¼ cents this week, closing at $4.84 ¼. The national average cash corn price is reported at $4.20 ¾, down ½ cent.
As of April 16, corn export commitments reached 74.1 million metric tons (MMT), marking a 28% year-over-year increase and constituting 88% of the USDA’s export projection. Commitment of Traders data indicates that spec funds added 24,923 contracts to their net long position, bringing the total to 184,406 contracts by April 21. Open interest fell by 20,505 contracts, primarily driven by May contracts.
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