TREND: The trend for May corn is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 312,342 contracts as of March 17 and were net-buyers of 54,561 contracts during the CFTC reporting period, as prices rallied on bullish influence from energy markets due to the ongoing war in the Middle East.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 255,623 contracts as of March 17 and were net-sellers of 46,441 contracts through the CFTC reporting period. The May 2026 contract is priced 10 1/2 cents lower than the July 2026 contract, narrowing (less carry) slightly through the week, but still among the highest degree of carry between the two contracts...
Commentary
DTN Aghost Early Word Livestock
Cattle futures were higher, but traders lacked conviction. There is uncertainty over cash trade for the week as packers have some cattle on the books for delivery. Hog futures closed mixed as traders could not find solid support, and attention is turned toward the Hogs and Pigs report.