Corn Extending Bounce to Tuesday

Core Insights - Corn futures are experiencing gains, with prices increasing by 1 to 2 cents, and the national average cash corn price rising to $4.08 ½ [1] - Total export sales commitments for corn have reached 50.538 million metric tons (MMT), which is 30% larger than the same period last year and represents 62% of the USDA's estimate for the full marketing year, exceeding the average pace of 60% [1] Market Position - Managed money has shifted to a net short position of 23,584 contracts in corn futures and options as of December 30, indicating a move to the short side of 26,343 contracts [2] - Current corn prices for various futures contracts are as follows: Mar 26 at $4.46 1/4, May 26 at $4.54, and Jul 26 at $4.60, all showing slight increases [2]