Managed‑Money Selloff Sends Corn and Soy Prices Lower as Texas Screwworm Reprices Cattle

Overview

• CFTC Commitment of Traders data show managed‑money cut net long corn positions by about 90,000 contracts in the latest report, a selloff that accelerated long liquidation across corn and soybean futures.
• Corn futures hit multi‑week lows with July down roughly 29½¢ on the week and about 45¢ over two weeks while soybeans posted steep weekly losses of about 65¼¢ as product prices and weaker cash values added pressure.
• USDA NASS crop progress and condition readings left corn 93% planted with 67% rated good or excellent and soybeans 87% planted with 66% rated good or excellent, results slightly below some trade estimates and flagged by low Brugler index scores.
• USDA confirmed late Wednesday that a New World Screwworm infected a 3‑week‑old calf in Zavala County, Texas, a report that sent feeder cattle to near‑limit gains and pushed live cattle higher before prices eased into Friday.
• Weekly export sales were mixed with old‑crop U.S. corn sales below expectations while larger Argentina and Brazil supplies and weaker FOB offers, together with crude oil and ethanol swings, point to continued volatility until clearer export and crop signals emerge.