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CBOT corn near unchanged, capped by big supplies

CBOT corn near unchanged, capped by big supplies

Mon Oct 30 2017

 

Chicago Board of Trade corn futures closed little changed on Monday, with prices anchored by ample global supplies and an accelerating US harvest, traders said.

 

Already-large net short holdings by large speculators limited additional selling pressure, traders said. The CFTC’s weekly supplemental commitments report showed large speculators widened their net short position in the week to Oct. 24 to 213,806 contracts, their largest since June.

 

Analysts polled ahead of the USDA’s weekly crop progress report expect the US corn harvest to be 53 percent complete.

 

Source: Reuters

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