TREND: The trend in December corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 90,483 net-shorts in corn as of September 3, a big decrease of 58,051 contracts on a week that saw corn prices trade higher.
COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 122,906 as of September 3, accommodating specs by lifting positions. The December 2024 contract is priced 18 1/4 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis has eased lately and is the 6th strongest in 10 years for this time of year, a neutral-to-bearish indication of demand.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom...
Commentary
AgHost Livestock Close
Triple-digit gains quickly flooded through the cattle complex as traders focusing on previous market shifts quickly and aggressively became active buyers Thursday. Momentum seen in nearby live cattle and feeder cattle contracts are a combination limited support from Thursday's WASDE report and a renewed late day shift in outside financial markets.