Corn Futures Reacting Cautiously to Bullish USDA Report

Friday, 12 July 2024, 16:58

Despite a positive USDA report favoring corn bulls, the market remains subdued as bears attempt to protect their significant short position. Corn futures have shown a slight increase ranging from fractionally up to 4 cents for the day. The latest WASDE update, specifically on old crop corn, has...
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Corn Futures Reacting Cautiously to Bullish USDA Report

Corn Prices Reacting Cautiously

Despite a positive USDA report favoring corn bulls, the market remains subdued as bears attempt to protect their significant short position.

Market Response

  • Overall, futures are up fractionally to 4 cents so far on the day.
  • Corn bulls received one of the more friendly USDA reports in a while.
  • Bears are trying to defend their large spec net short position.

The monthly WASDE update showed old crop corn...


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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