TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 120,900 contracts as of Nov. 18, an increase of 77,887 contracts during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 84,962 contracts as of November 18, the most recent CFTC data. The March 2026 contract is priced 8 1/4 cents lower than the May 2026 contract, a spread that was slightly wider through the week. DTN's National Corn Index implies a corn basis of 41 cents under the March board, a penny firmer through the week.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early...
Commentary
AgHost Livestock Close
The livestock complex closed mostly higher as traders remain active and thoroughly supportive of the livestock contracts. Still no cash cattle trade has developed, but asking prices are noted at $233 plus in the South.