Corn futures rallied on Friday, with contracts up 7 to 8 ¾ cents. Despite 1 billion more bushels on the balance sheet, September managed a penny gain. Precipitation is limited in much of the Corn Belt over the next week. Managed money spec funds increased their net short positions in corn futures and options. Export Sales report showed old crop commitments at 98% of USDA’s estimate. Sep 25 Corn closed at $3.83 3/4, Nearby Cash was $3.66 3/4, Dec 25 Corn closed at $4.05 1/4, Mar 26 Corn closed at $4.22 1/2, and New Crop Cash was $3.61 3/8.

Read more at Yahoo Finance: Corn Posts Strength on Friday to Close the Week Back to Where it Started