TREND: The trend for July corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-short futures position of 20,333 contracts as of May 27, an increase of 8,781 contracts as traders continued to keep selling pressure on corn prices during the most recent CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 52,564 contracts as of May 27, an increase of 13,550 contracts week over week. The July 2025 contract is priced 20 1/2 cents higher than the September 2025 contract, a spread that weakened slightly over the past week. DTN's National Cash Index indicated that corn basis firmed over the most recent week to 24 cents under the July board, an improvement of 1 cent on the...
Commentary
AgHost Livestock Close
It was a mixed day for the livestock complex as traders simply weren't willing to advance the cattle contracts ahead of the weekend, but the lean hog complex was finally able to close above its nearby resistance because of the market's added support.