TREND: The trend in most active corn futures is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 58,333 contracts as of June 23, and were net-sellers of 19,511 contracts during the CFTC reporting period as traders continued to liquidate length amid a good start to the U.S. growing season as well as weakening energy influence with an interim peace plan in effect in the Middle East.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 16,495 contracts as of June 23, and were net-buyers of 15,976 contracts through the CFTC reporting period. The July 2026 contract is priced 8 3/4 cents lower than the September 2026 contract, still among the highest degree of...
Commentary
AgHost Livestock Close
By Friday's close, the livestock complex had successfully kept with its mixed trend through the week's very end as cattle closed lower, but the lean hog contracts saw some mild support. At the time of this writing, only a small trade had developed in the cash cattle market, but prices were mixed, with Southern cattle trading $1.00 lower and Northern cattle trading $1.00 higher.