Corn futures are experiencing gains of 3 to 4.5 cents across most contracts as of Thursday. The national average cash corn price has risen by 3.75 cents to $3.99 ½.
In the export sales report for the week ending November 27, 1.792 million metric tons (MMT) of corn were sold, exceeding trade estimates of 1-2 MMT and remaining 3.5% higher compared to the same week last year. Additionally, the Commitment of Traders data as of December 2 indicates that spec funds added 34,142 contracts to their long positions in corn futures and options, bringing their net position to 23,270 contracts.
