Corn Markets Today: Soft Close as December Contract Expires

Corn futures wrapped Friday’s session with broad weakness, as the December contract expired from the marketplace. Most nearby contracts retreated 4-6 cents, while the March delivery finished the week with a 4-cent decline. The national cash corn average held at $3.96 3/4 per bushel, reflecting a 5 1/2-cent pullback on the session.

Export Activity and Supply Flows

Friday morning brought news of private corn export commitments totaling 250,000 metric tons, though destination details remained undisclosed. Traders are bracing for an export sales update on Monday, with consensus estimates pointing toward 1.1-2.2 million metric tons in corn sales for the week ending November 20th. These figures will provide crucial insight into domestic supply flow dynamics and overseas demand strength.

Positioning Shifts in Corn Futures

The latest CFTC positioning data, released this afternoon for the week concluding November 18th, revealed a significant tactical shift. Managed money flipped from a net short stance to establish a net long position of 38,127 contracts—representing a substantial 77,650-contract swing across the reporting period. This repositioning signals changing market sentiment regarding corn’s near-term direction.

Friday’s Settlement Prices

The December 2025 corn futures closed at $4.31 1/2, off 3 3/4 cents on the day. The nearby cash corn benchmark settled at $3.96 3/4, down 5 1/2 cents. March 2026 delivery finished at $4.40 3/4, declining 5 3/4 cents, while May 2026 corn ended the week at $4.49, off 5 1/4 cents.

The week’s weakness in corn markets today reflects a combination of technical selling following expiration and shifting fund positioning, setting the stage for next week’s export data release.