The new week begins with front month corn futures 2 to 3 cents lower. Last week ended on light new buying, with preliminary OI data up 1,848 contracts on Friday. On Friday futures were 3/4 to 1 3/4 cents higher, but after a week of losses Dec futures were still 3.5% in the red from Friday to Friday. In general, the Midwest forecasts lean cooler and drier than normal for the next two weeks. NASS’s crop progress report is expected to show between 16 and 18% of the crop has been harvested. The weekly CFTC Commitment of Traders update this afternoon had managed money at 95,912 contracts net long for corn on 9/22. That was a 37,356 contract increase to their net position wk/wk on 5,102 contracts lower OI. Commercials extended their net short 35,471 contracts to 299,308.

--- provided by Brugler Marketing & Management