Corn futures closed higher on Friday, with contracts up 6 to 7 cents, likely due to short covering before the weekend. The national average cash corn price was $3.95. Managed money reduced their net short position, while commercials increased theirs. Weather forecasts predict above normal temperatures and rain in the Corn Belt.

Export sales data shows 69.467 MMT shipped and unshipped, at 99% of the USDA forecast, below the 5-year average pace. Shipments are at 85% of USDA numbers. Corn prices for September closed at $4.08 1/2, with nearby cash at $3.95, Dec 25 Corn at $4.27 3/4, Mar 26 Corn at $4.44 3/4, and New Crop Cash at $3.85 1/4.

Read more at Yahoo Finance: Corn Rallies into the Weekend