TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 120,900 contracts as of Nov. 18, an increase of 77,887 contracts during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 84,962 contracts as of November 18, the most recent CFTC data. The March 2026 contract is priced 8 1/4 cents lower than the May 2026 contract, a spread that was slightly wider through the week. DTN's National Corn Index implies a corn basis of 41 cents under the March board, a penny firmer through the week.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early...
Commentary
AgHost Livestock Close
The livestock complex closed fully lower Wednesday afternoon as the market hit a lull spot, not receiving the fundamental support it needed, and as traders began to show less interest in the market with the holidays nearing.