Corn Prices Close Steady Amid Strong Export Sales
On July 25, corn futures showed a mixed performance after initially trading weak but rebounding to close nearly unchanged. The September contract rose by almost 19 cents for the week while December climbed 20 cents higher. Cash prices also saw slight gains with the national average at $4.34 per bushel. Export sales data revealed strong demand, reaching 86.613 million metric tons—exceeding USDA projections and outpacing recent years. Managed money investors increased their net long position in corn futures by nearly 50,000 contracts during the week of July 21, according to CFTC data. New crop sales reached 7.56 MMT, surpassing last year’s pace by 12.5%. Despite dry weather forecasts across much of the Corn Belt, prices remained resilient due to strong export demand and investor positioning. The market appears supported by both fundamental factors—such as robust exports—and technical indicators like increased long positions among institutional traders.
Topics: corn export_sales futures prices weather