Corn Closes Higher on Friday

Corn futures closed the Friday session with most contracts 5 to 6 1/4 cents higher after a week of losses. Since last Friday, Sep has dropped 5.17%. Spillover buying from soybeans and wheat was supportive, along with Fed easing talk. Friday’s Commitment of Traders report indicated that spec traders in corn futures and options were net long 187,260 contracts as of Tuesday. Commercials were net short 522,525 contracts on that date, nearing a record number of short positions (1.134 million). Safras & Mercado expect the 19/20 Brazilian corn crop to total 103.97 MMT.

SEP 19 Corn closed at $4.30 3/4, up 6 1/4 cents,

DEC 19 Corn closed at $4.35 3/4, up 6 cents,

MAR 20 Corn closed at $4.44, up 5 3/4 cents

MAY 20 Corn closed at $4.48, up 5 3/4 cents

--provided by Brugler Marketing & Management




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