TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 31,671 contracts as of Jan. 27 and were net-buyers of 20,033 contracts during the CFTC reporting period on strong world demand for U.S. corn and falling crop conditions in Argentina through January.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 52,691 contracts as of Jan. 27 and were net-sellers of 15,353 contracts through the CFTC reporting period. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, steady through the week. National average corn basis firmed a penny through the week to 34 cents under the March board.
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DTN's Grain Quick Takes
OMAHA (DTN) --March corn is down 4 3/4 cents per bushel, March soybeans are down 10 cents, March KC wheat is down 5 3/4 cents, March Chicago wheat is down 7 1/4 cents and MIAX March Minneapolis wheat is down 5 cents.