Corn futures are trading with 2 to 4 cent losses on Monday morning. The corn market closed out the Friday session with some bear spreading, as nearby contracts were down 3 to 4 cents and new crop December was up 3 cents. July was down 16 ½ cents last week. Friday’s preliminary open interest was down 3,516 contracts. There were another 28 deliveries against May corn futures, all issued by a RJO customer. The nearby CmdtyView national average Cash Corn price was down 3 at $4.39 3/4.

Commitment of Traders data from CFTC showed a total of 41,476 contracts trimmed from the specs now smaller net long position. They held a net long of 71,329 contracts as of April 29. Commercials trimmed their net short by 18,426 contracts to 339,720 contracts.

The weather forecast for next week very little precip in much of the Corn Belt, with NE through IN seeing little to no rainfall. Southern portions of the US are expected to see heavier totals.

StoneX is projecting total Brazilian 2024/25 corn production at 132.4 MMT. Their second crop projection is estimated at 104.3 MMT, a 2.7 MMT increase from their previous estimate.

May 25 Corn  closed at $4.61 1/4, down 3 cents, currently down 3 1/4 cents

Nearby Cash  was $4.39 3/4, down 3 cents,

Jul 25 Corn  closed at $4.69, down 3 1/4 cents, currently down 3 3/4 cents

Dec 25 Corn  closed at $4.50 1/4, up 3 cents, currently down 2 1/2 cents

New Crop Cash  was $4.09 1/4, up 2 1/2 cents,