TREND: The trend in most active corn futures is revised to sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 286,689 contracts as of Oct.20, net-sellers of 71,678 contracts as traders rushed to secure profits following the recent bearish USDA updates and advancement of U.S. harvest.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 261,080 contracts as of Oct. 20, and were net-buyers of 65,878 contracts through the CFTC reporting period. The December 2026 contract is priced 14 cents lower than the March 2027 contract, fading (adding carry) 2 1/4 cents through the week as traders appear uncertain of where national corn productivity will land in...
Commentary
AgHost Livestock Close
Still no cash cattle trade has developed as once again packers and feedlot managers go toe to toe. What a day it was. The Cattle on Feed report was extremely bullish with placements down 12%, and the fed cash cattle market has yet to trade any cattle as packers and feedlot managers go toe to toe.