Corn prices are down 5 to 6 cents so far on Monday morning. Futures faded lower into the weekend across most contracts. Futures were down 2 to 4 cents in the front months, as they closed out the week. A few deferred contracts were steady to 1 ¾ cents higher.
Following their near week-long Crop Tour Pro Farmer released their projected US yield number at 181.1 bpa this afternoon, with production at 14.979 bbu. That came in below the 183.1 bpa and 15.147 bbu estimates from USDA.
Weekly Commitment of Traders data showed spec funds in corn futures and options adding another 8,889 contracts to their net short position, at 257,869 contracts by August 20. Commercials added another 5,036 contracts to the net long position at 14,669 contracts by Tuesday.
Sep 24 Corn closed at $3.67 3/4, down 3 3/4 cents, currently down 6 cents
Nearby Cash was $3.56 5/8, down 3 3/4 cents,
Dec 24 Corn closed at $3.91, down 2 1/2 cents, currently down 5 1/4 cents
Mar 25 Corn closed at $4.09 1/2, down 2 cents, currently down 5 1/2 cents
New Crop Cash was $3.47 3/8, down 4 1/4 cents,
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