US-China Trade Talks Loom as Corn Futures Rebound

Corn futures staged a rebound on Friday, closing near to a penny higher after hitting early lows. The December contract managed to eke out a gain of three-quarters of a cent for the week, while other contracts were steady to up half a cent.

The national average Cash Corn price rose by one cent to $4.84, according to CmdtyView's data. However, limited information was released regarding trade discussions between US and Chinese leaders this week, with reports indicating that details would be made available on Monday.

The Commitment of Traders data from the CFTC revealed that managed money trimmed back 12,405 contracts from their net long position in corn futures and options. As of September 22, their net long position stood at 414,437 contracts.