TREND: The trend for May corn is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 312,342 contracts as of March 17 and were net-buyers of 54,561 contracts during the CFTC reporting period, as prices rallied on bullish influence from energy markets due to the ongoing war in the Middle East.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 255,623 contracts as of March 17 and were net-sellers of 46,441 contracts through the CFTC reporting period. The May 2026 contract is priced 10 1/2 cents lower than the July 2026 contract, narrowing (less carry) slightly through the week, but still among the highest degree of carry between the two contracts...
DTN's Grain Quick Takes
OMAHA (DTN) -- May corn is down 6 1/2 cents per bushel, May soybeans are up 3 3/4 cents, May KC wheat is down 5 3/4 cents, May Chicago wheat is down 10 3/4 cents and MIAX May Minneapolis wheat is down 1 3/4 cents.