TREND: The trend for September corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 129,457 contracts as of July 15, a decrease of 12,305 contracts as traders reversed recent selling activity in light of the bullish July 11 WASDE report from USDA.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 157,267 contracts as of July 15, a decrease of 8,397 contracts week-over-week. The September 2025 contract is priced 18 3/4 cents lower than the December 2025 contract, a spread that widened moderately over the past week. DTN's National Cash Index indicated corn basis improved slightly over the last week, firming one cent to 12 cents under the September board.
...
Commentary
AgHost Livestock Close
It was a positive day for the livestock complex as all three of the markets closed higher. But it was especially profound for the cattle complex as many of the nearby live cattle and feeder cattle contracts scored new contract highs.