March corn futures slipped to $4.45 following a drop in CBOT open interest, indicating reduced speculative appetite. Commercial hedgers continue to lock in forward sales, dampening the potential for sharp upward moves. Reps from the two sides didn't respond to queries seeking comment and Policy Kings officials haven't yet filed a response to the lawsuit. However, Policy Kings posted a message on its Instagram page Friday stating that it was ceasing operations. That post and all the earlier Policy Kings messages were later removed with a new message on Sunday featuring a picture of the locale's founder, Deandre Ridgel, and a poem that sounded a message of seeming defiance. This report is the first indication of whether planted acres will go to corn versus soybeans in the Midwest. March corn futures edged higher to $4.49 after mild U.S. Midwest snowstorms prompted logistical delays in rail shipments. If transportation bottlenecks persist, this could tighten short-term supply availability.
