Corn Bulls Extending Gains into the End of August

Corn futures were higher, with fractional to 2-cent gains, as the market continued a run of incremental improvement into late August. On First Notice Day for September corn, 90 deliveries were issued. The CmdtyView national average cash price rose 1.5 cents to $4.92 1/2. Monday’s Export Inspections showed corn shipments of 1.496 MMT (58.9 mbu) in the week of August 27, up 13.11% from the prior week and 6.12% above the same week a year ago. Mexico led at 510,453 MT. The marketing year total reached 83.81 MMT, 25.14% ahead of last year. CFTC data for August 25 showed managed money adding 126,008 contracts to net long positions.