TREND: The trend in December corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 175,513 net-shorts in corn as of March 19, a decrease of 13,517 contracts on the week and falling back from the largest net short position on record four weeks earlier.
COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 183,490 as of March 19, glad to lighten positions on the rally after prices bounced off a new December low of $4.46 in late February. The December contract is priced 13 3/4 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis is a little below average for this time of year.
SEASONAL INDEX: Corn prices tend to peak...
DTN's Grain Quick Takes
OMAHA (DTN) --As we near the week's end ahead of a holiday weekend, May corn is up 14 cents per bushel, May soybeans are down 3 1/2 cents, May KC wheat is up 3 3/4 cents, May Chicago wheat is up 9 3/4 cents and May Minneapolis wheat is down 6 1/2 cents.