Corn Futures Experience Declines as Market Adjusts Before Weekend

Corn futures faced downward pressure on Friday, losing between 3 to 8 cents, particularly impacting the front months. Conversely, March futures remained positive, gaining 5 ½ cents over the week. The national average Cash Corn price reported by cmdtyView decreased by 7 ¾ cents to $4.53 ¾. In related news, President Trump announced intentions to introduce reciprocal tariffs on several countries next week, prompting traders to adopt a more cautious stance ahead of the weekend.

According to the Commitment of Traders data released by CFTC, as of February 4, there was an increase of 13,496 contracts in the large managed money spec fund net long position. This position totaled 364,217 contracts, with outright longs reaching a record high of 447,897 contracts.

The latest Export Sales report indicates that total U.S. export commitments for the marketing year stand at 44.767 million metric tons (MMT), marking a 28% rise compared to the previous year. This figure represents 72% of the USDA’s estimate, slightly above the average pace of 70%.

Mar 25 Corn closed at $4.87 ½, down 7 ¾ cents.

Nearby Cash was at $4.53 ¾, down 7 ¾ cents.

May 25 Corn closed at $5.00 ½, down 7 cents.

Dec 25 Corn closed at $4.66, down 3 ¾ cents.

New Crop Cash settled at $4.34 5/8, down 4 ½ 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.

More news from Barchart

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.