Corn price action is down 1 to 2 cents as we begin Monday trade. Futures closed the Friday session with most contracts fractionally to 2 ½ cents higher, shrugging off early weakness. July was an exception, down ¼ cent. Open interest was up 6,691 contracts on Friday. The CmdtyView national averageCash Corn price was up 1/2 cent at $4.12 3/4.
Weekly Commitment of Traders data showed managed money slashing 59,149 contracts from their net long position in the week ending on April 14, mainly via new short interest. That took the net long to 159,483 contracts of futures and options.
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