TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net short futures position of 7,835 contracts as of Feb. 17 and were net-buyers of 10,495 contracts during the CFTC reporting period, as prices have rallied off lows set following the bearish January WASDE report.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 25,990 contracts as of Feb. 17 and were net-sellers of 11,348 contracts through the CFTC reporting period. The March 2026 contract is priced 12 cents lower than the May 2026 contract, moving wider (more carry) through the week, to the highest degree of carry through the life of the contracts. National average corn basis was steady...
DTN's Grain Quick Takes
OMAHA (DTN) -- Posted 12:39 -- March corn is up 1 3/4 cents per bushel, March soybeans are down 2 3/4 cents, May KC wheat is up 11 cents, May Chicago wheat is up 12 3/4 cents and MIAX May Minneapolis wheat is up 7 1/4 cents.