TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 51,704 contracts as of Jan. 20 and were net-sellers of 18,281 contracts during the CFTC reporting period following a bearish surprise in the Crop Production and WASDE reports released by USDA on Jan. 12.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 68,044 contracts as of Jan. 20 and were net-buyers of 19,121 contracts through the CFTC reporting period. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, mostly steady through the week. National average corn basis firmed a penny through the week to 35 cents under the March board.
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DTN's Grain Quick Takes
OMAHA (DTN) -- March corn is down 2 1/2 cents per bushel, March soybeans are down 6 1/4 cents, March KC wheat is down 9 1/2 cents, March Chicago wheat is down 7 1/4 cents and MIAX March Minneapolis wheat is down 4 3/4 cents.