Corn futures rise 5 to 11 1/4 cents on Sept. 8 as wheat rally lifts grain markets
AI Market Summary
Corn futures ended the week higher, supported by spillover from a wheat-led rally tied to rising Black Sea tensions. CFTC data showed managed money reduced net long exposure as new shorts entered, suggesting conviction is mixed despite price strength. Old-crop export sales and shipments are tracking ahead of USDA projections, while new-crop sales lag year-on-year, creating a more balanced fundamental backdrop.
Impact level
● Low
Affected assets
NCCOWHEAT2USD/USDT+2.41%
AI Insight · NCCOWHEAT2USD/USDTAI Insight
▲ Bullish
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Corn futures posted gains of 5 to 11.25 cents on Friday and finished the week higher, drawing spillover support from a sharp wheat rally tied to rising Black Sea tensions. CFTC data showed managed money trimmed its net long position by 15,176 contracts to 166,770, as new short interest entered. Old-crop export sales reached 104% of the USDA target with shipments at 95%, while new-crop sales were down 23.5% from the same period last year. The national average cash corn price rose to $4.30.
