TREND: The trend in December corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 189,030 net-shorts in corn as of March 12, a decrease of 41,857 contracts on the week and falling back from the largest net-short position on record three weeks earlier.
COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 199,050 as of March 12, glad to lighten positions on the rally after prices hit a new December low of $4.46 in late February. The December contract is priced 12 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 in...
DTN's Grain Quick Takes
OMAHA (DTN) --May corn is down 1 1/4 cents per bushel, May soybeans are down 8 3/4 cents per bushel. May KC wheat is up 9 cents per bushel, May Chicago wheat is up 13 cents per bushel and May Minneapolis wheat is up 7 1/2 cents.