Corn Futures Extend Gains into Weekend

Corn futures continued their upward trend into the weekend, with contracts settling between 1 to 4 cents higher on Friday. The September contract was up 28 ¼ cents for the week, while December gained 28 cents.

The CmdtyView national average Cash Corn price also rose by 2 1/4 cents to $4.84 1/4. According to CFTC data released on August 25, managed money in corn futures and options added a total of 126,008 contracts to their net long position, bringing it to 376,513 contracts.

This net long is the largest since April 2022 but still falls short of the record high of over 528,000 contracts set on Tuesday. The total number of outright longs held by specs reached a new record of 465,500 contracts on Tuesday.