TREND: The trend for July corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 18,106 contracts of corn as of May 13, a decrease of 97,793 contracts week over week as traders continue to sell out of corn futures positions.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 13,151 contracts as of May 13, a switch of 88,448 contracts from the previous week's net-short position of 75,297 contracts. The July 2025 contract is priced 20 cents higher than the September 2025 contract; a spread has held steady over the past week. DTN's National Corn Basis has leveled out over the past week to 27 cents under the July board, an improvement of 1 cents week over...
Commentary
AgHost Livestock Close
It was a fairly quiet day for the livestock complex, with the only real excitement being that of the uptick in boxed beef prices. Still no cash cattle trade has developed. July corn is up 7 cents per bushel and July soybean meal is up $1.50.