Corn Slipping on Monday Morning

Group 1 - Corn prices are steady to slightly lower, with futures experiencing losses of 4 to 5 cents on Friday, while March futures were up 2 cents last week [1] - The national average cash corn price decreased by 5 cents to $3.97 3/4, and the average close for December futures in February was $4.58, down from $4.70 last year [1] - Total corn export commitments reached 58.735 million metric tons (MMT), which is 31% higher than the same period last year, representing 72% of USDA's export projection [2] Group 2 - The USDA's WASDE report is expected to show no major changes to the US ending stocks number, with an average trade guess of 2.215 billion bushels [3] - Brazil's first corn crop is 15% harvested, ahead of last year's 19% pace, while the second crop planting has reached 22%, slightly ahead of the 20% pace from 2025 [4] - CFTC data indicated a reduction of 3,464 contracts from the spec net short position in corn futures and options, with the net short standing at 68,786 contracts as of February 3 [3]