TREND: The trend for December corn is revised to sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 51,186 contracts as of September 23, an increase of 15,017 contracts during the CFTC reporting period as traders turned to selling amid technical pressure in the corn market.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 79,646 contracts as of September 23, the most recent CFTC report. The December 2025 contract is priced 12 1/2 cents lower than the March 2026 contract, another 1 1/4 cents firmer this week on thoughts of lower than expected U.S. yields and extremely strong nearby demand. DTN's National Corn Index implies a corn basis of 37 cents under the...
Commentary
AgHost Livestock Close
It was another disappointing day for the livestock complex as the market saw the cattle contracts close limit lower as fear and worry continue to plague the market. Some light cash cattle trade reported at $360 in the North, which is $2.00 higher than last week's weighted average, and at $232 in the South, which is $4.00 lower than last week's weighted average.