TREND: The trend for July corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 77,844 contracts as of June 16, and were net-sellers of 25,715 contracts during the CFTC reporting period as traders rapidly moved to secure profits on long positions amid a good start to the U.S. growing season in terms of weather, and weak outside energy influence amid a tentative peace agreement between the U.S. and Iran.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 32,471 contracts as of June 16, and were net-buyers of 20,651 contracts through the CFTC reporting period. The July 2026 contract is priced 8 cents lower than the September 2026 contract, still...
Commentary
DTN Aghost Early Word Livestock
Resistance held and cattle futures set back. However, that may have been due to some profit-taking and not a change in trend. Hog futures struggled all day to post an increase, but could not find sustained buying interest as only August and October closed higher.