TREND: The trend in December corn is sideways, a possible early end to harvest pressure.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 265,501 contracts in corn as of Sept. 21, an increase of 6,867 contracts from the previous week, but still among the lowest positions in 11 months.
COMMERCIAL OUTLOOK: Commercial net shorts are also lighter but continue to favor the short side as of Sept. 21. The December contract is priced 7 1/2 cents below the March contract, a bearish indication of demand for new-crop corn.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
PRICE PROBABILITY: The active futures...
Commentary
Lean Hog Futures Surge Higher Monday
Tighter than expected hog inventory in Friday's report left traders aggressive Monday. Limit gains held through closing bell in December and February futures; this will allow expanded trading limits in lean hog contracts Tuesday, and will likely add to market volatility. Cattle futures turned lower based on larger feeder cattle placements in August.