Corn futures experienced mixed trading on May 26, with contracts ranging from down ½ cent to up 2 cents. Notable price changes included March corn up 6 ¼ cents and December corn up 7 ¼ cents for the week. The CmdtyView national average cash corn price settled at $4.20 ¾, down ½ cent.
As of April 21, speculative funds increased their net long position by 24,923 contracts, bringing the total to 184,406 contracts. In terms of export commitments, corn exports totaled 74.1 million metric tons (MMT) as of April 16, marking a 28% increase from last year and representing 88% of the USDA’s export projection.
Recent activity included a South Korean importer purchasing 67,000 MT of corn and another buyer securing 134,000 MT on Thursday. Closing prices on May 26 noted May corn at $4.55, down ½ cent, July corn at $4.63 ½, down ¼ cent, and December corn at $4.84 ¼, which was up ¾ cent.
