Grain Express

Corn (May)

Fundamentals: May corn futures made several attempts to rally last week but failed to hold those attempts through the close, which has kept the funds comfortably short. Friday’s Commitment of Traders report showed funds net short position at 99,925 contracts. This is a decent sized position, but far from a record. The fundamental headwinds remain stout, keeping the bear camp in full control, fundamentally and technically. We are also entering planting season, so you can expect weather to become a common headline.