Corn Futures Start Year on Weak Note
Update: 2026-01-02
Description
Corn futures start 2023 on a downward trend, trading down 2-4 cents on Friday. Despite this, the national average cash corn price increased by 2.25 cents to $3.9825. The USDA announced a private export sale of 132,000 metric tons of corn to South Korea. Traders anticipate between 0.7-1.5 million metric tons for the week of December 25. The USDA also revealed details on the Farm Bridge Assistance program, offering payments of $44.36 per acre for corn and $48.11 for sorghum. Managed money funds shifted to a net long position of 2,759 contracts, primarily due to short covering. March, May, and July corn futures all decreased by 2.5-3.5 cents. Keep an eye on export numbers early next week. Checkout Solipillow.com
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