Corn Prices Start Week on Weak Note After Narrow Escape from $5
Corn prices have started the week on a weak note after a close call with $5 on Friday. Despite hitting a low of $4.95 in the December contract, futures managed to stay above the psychological threshold, but only just.
The bulls fought back to close the session with contracts steady to 1 ½ cents higher. However, open interest was down significantly, with a total of 29,668 contracts lost, mainly in the December contract (-20,972). This drop in open interest could be a sign that some market participants are losing confidence in corn prices.
The US Department of Agriculture's export sales data showed just 535,989 MT in corn sales for 2026/27, which is the lowest figure for this period in four weeks. Mexico was the top buyer with 252,200 MT, while Colombia took 101,200 MT. This lackluster performance could be a concern for corn prices going forward.