Corn Rally Double Digits into the Long Weekend | U.S. Finance News
Corn futures rallied into the Labor Day weekend with contracts up 10 to 12 ½ cents as some money stream gave the bulls a increase to finish the month. December closed the week 8 /4 cents greater, helped by the Friday transfer. The CmdtyView national average Cash Corn price was up 17 1/4 cents at $3.84. The market will probably be closed on Monday due to the Labor Day vacation, with a regular open on Monday evening for the Tuesday session. Commitment of Traders information confirmed spec merchants in corn futures and choices reducing their massive internet short place by 33,964 contracts to 110,686 contracts as of Tuesday. Much of that got here by way of short overlaying, with the quantity of shorts down 21,103 contracts. Commercials elevated their internet short place by 29,494 contracts to 87,239 contracts as of August twenty sixth.
Don’t Miss a Day: From crude oil to espresso, signal up free for Barchart’s best-in-class commodity evaluation. USDA Export Sales information has previous crop corn commitments at 70.475 MMT, which is 98% of the full yr export forecast, and lags the 103% average gross sales tempo. New crop business is at 18.775 MMT, which is the second largest for the present week on document behind 2021/22. Sep 25 Corn closed at $3.98, up 12 1/2 cents,Nearby Cash was $3.84, up 17 3/4 cents,Dec 25 Corn closed at $4.20 1/4, up 10 1/4 cents,
Mar 26 Corn closed at $4.37 3/4, up 10 1/4 cents,New Crop Cash was $3.79 1/8, up 15 cents,
On the date of publication,
Austin Schroeder
didn’t have (both immediately or not directly) positions in any of the securities talked about on this article. All data and information on this article is solely for informational functions.
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