Corn futures gave back into some weakness on Friday, as contracts were down 1 to 2 cents. September was down 6 ¾ cents this week, with December slipping 5 ¼ cents. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $3.65 1/2.
USDA reported a private export sale of 125,000 MT of 2025/26 corn to unknown destinations this morning.
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Commitment of Traders data showed speculators trimming 7,435 contracts from their net short position as of August 5 to 173,750 contracts. Commercials added a slight 2,417 contracts to their net short position as of Tuesday to 27,359 contracts.
Ahead of the USDA Crop Production reports next week, analysts surveyed by Bloomberg shows an average guess of 184.3 bpa for national corn yield with a wide range of 181 to 189. Production is pegged at 15.995 billion bushels, which would be up 290 mbu from last month’s WASDE total.
USDA’s Export Sales report from Thursday showed old crop corn commitments now at 70.621 MMT, which is 101% of the WASDE projection and 1 point back of the average pace. Accumulated export shipments are now 62.89 MMT, which is now 90% of the USDA number and lags behind the 93% average pace. Actual Census data is further ahead vs. the FAS data.
Sep 25 Corn is at $3.82 3/4, down 1 3/4 cents,
Nearby Cash is at $3.65 1/2, down 1 3/4 cents,
Dec 25 Corn is at $4.05 1/2, down 1 1/2 cents,
Mar 26 Corn is at $4.23, down 1 1/2 cents,
New Crop Cash is at $3.62, down 2 3/4 cents,
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