Chicago Board of Trade corn futures were called to open 2 to 4 cents per bushel higher Tuesday on follow-through technical buying after the long US holiday weekend, traders said. Overnight, deliveries against the September were moderate at 555 contracts. Commercial ADM posted 200 and customer accounts of ADM stopped 316.
The overnight e-cbot trend for corn was up 4 cents per bushel to down 3-1/2.
Weekly trade data from the Commodity Futures Trading Commission on Friday showed that large speculators expanded their net long position in CBOT corn contracts by 6,300 lots to 118,000 during by August 28, according to the supplemental report.