Corn futures sputtered late on Friday, with contracts down 3 ½ to 4 ¼ cents on Friday, as some deferreds were fractionally lower. May was down 1 ¾ cents this week. The CmdtyView national average Cash Corn price was down 4 cents to $4.23 3/4.
The Friday update to the CFTC Commitment of Traders report showed a total of 35,533 contracts added to the managed money net long position in corn futures and options as of Tuesday, That took the net long to 228,804 contracts, as shorts dropped to their lowest level since last March. Commercials added 44,702 contracts to their net short of 522,116 contracts as producer selling continues to pick up.
