Corn Market Recap - 10/21/2016

October 21, 2016 10:46AM CDT

December Corn finished up 1 1/2 at 352 1/2, 1 3/4 off the high and 2 up from the low. March Corn closed up 1 1/2 at 362 1/4. This was 2 1/4 up from the low and 1 1/4 off the high.

December corn closed at 352 1/2 up 1 1/2 cents on the day and down 1 3/4 cents on the week. Some problematic rains could fall in the northwestern areas of the belt centered primarily over the Northern Iowa and Southern Minnesota over the next 7 days that could delay some harvesting. Harvest progress should be 60% or higher on Monday's report. The corn market found some spillover support from the soybean rally and a strong ethanol market after Wednesday's solid production numbers. COT data showed managed money traders reduced their corn short by 61,000 contracts last week, leaving their short at only 69,978 contracts.

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