Corn Prices Rise Slightly in Early Monday Trade
On Monday morning, corn prices showed a slight rebound after declining during the previous trading session. Futures for December corn had fallen by 2¾ cents over the week but were up between 6 to 7 cents on the day as of early trade. Open interest increased by nearly 9,000 contracts, indicating heightened market activity. The national average Cash Corn price was reported at $4.82¼, down from earlier levels due in part to weakness observed in soybean and wheat markets along with losses seen in crude oil prices. Managed money investors added back 1,671 contracts to their net long position as of September 15th according to CFTC data. With attention turning toward an upcoming meeting between U.S. President Trump and Chinese President Xi later this week, there has been limited news regarding corn sales from the export wire so far.
Topics: CFTC_data corn futures_trading