Corn

Corn futures settled 2 to 3 cents lower, held back by losses in wheat. On the week, nearby May corn was down 2 1/4 cents. The CFTC report on Friday afternoon showed the managed money spec funds adding 34,700 contracts to their net long position in the week ending 4/10/18. China sold another 2.627 MMT of corn (from 2014) from state reserves on Friday, totaling 85.01% of the offered amount. There was also 301,850 MT of 2013 corn sold. The Argentine Ag Ministry estimates that the country’s corn harvest is 31% complete, compared to the average of 25% for this date. AgRural placed Brazil’s first crop harvest at 72% complete, lagging the average pace of 75%.

May 18 Corn closed at $3.86 1/4, down 2 1/2 cents,

Jul 18 Corn closed at $3.94 1/2, down 2 3/4 cents,

Sep 18 Corn closed at $4.01 1/2, down 2 3/4 cents

Dec 18 Corn closed at $4.10 3/4, down 2 3/4 cents




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