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Commodities

Corn Futures Rally on Friday Amid Weaker Tour Yields

Guavy AI Editorial Team
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Corn
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Corn futures made a late surge on Friday, closing higher across the board. September corn was up 24.75 cents for the week, while December contracts rallied by 25.25 cents.

The USDA reported that 205,000 MT of corn were sold to unknown destinations during the reporting period. Following this week's Crop Tour, Pro Farmer estimates the US national yield at 173.2 pba, with production at 15.344 bbu.

Managed money spec traders in corn futures and options held a net long position of 250,505 contracts as of August 18, an increase of 83,735 contracts from the previous week. This shift came from a mix of new length and shorts covering.

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