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Corn futures firm into Friday after a week of weaker Treasury yields
September corn gained 24.8 cents on the week, and the cash national average rose 5 cents to $4.52 1/2.
Corn futures ended Friday higher across the curve, rising between 2 3/4 cents and 6 1/2 cents, with September up 24 3/4 cents on the week and December up 25 1/4 cents, according to Yahoo Finance. The national average cash corn price, as measured by CmdtyView, climbed 5 cents to $4.52 1/2.
Yahoo Finance also pointed to activity around options expiration, noting that September options expired on Friday. It cited USDA reporting 205,000 MT of corn sold during the reporting period to unknown destinations.
After this week's Crop Tour, Pro Farmer estimates the US national yield at 173.2 pba, with production of 15.344 bbu, the article said. Weekly CFTC data showed managed money in corn futures and options at a net long of 250,505 contracts as of 8/18, up 83,735 contracts on the week.
Export sales data cited by Yahoo Finance showed old crop corn commitments at 87.74 MMT, 24% above last year, and equivalent to 102% of the USDA projection. It also said accumulated new crop sales were 11.391 MMT, 21.7% behind last year, but still the fourth largest forward book since 2000.
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