TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 53,192 contracts as of Dec. 30, a decrease of 11,680 contracts during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 26,351 contracts as of Dec. 30, the most recent CFTC data. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, slightly less carry through the week. DTN's National Corn Index implies a corn basis of 38 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 October.
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Commentary
AgHost Livestock Close
The livestock complex closed fully higher Thursday afternoon as traders were again eager to support the marketplace. Some light cash cattle trade developed in the North at $365, which is $5.00 higher than last week's weighted average.