TREND: The trend in December corn is up.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 305,677 contracts in corn as of Sept. 20, an increase of 11,108 contracts from the previous week and the eighth consecutive week specs have returned to the long side of corn.
COMMERCIAL OUTLOOK: Commercials increased net-short positions as of Sept. 20 where they are likely making sales against cash holdings. The December contract is priced 4 3/4 cents below the March contract, a neutral indication of commercial demand along with some acknowledgement of harvest pressure. The corn basis has weakened as is normal for this time of year, but remains firm for this time of year, a bullish indication of demand for cash...
Commentary
Cash Ethanol Prices Lower, Ethanol RINs Steady Friday
Spot ethanol cash prices lower and ethanol RINS were steady Friday. December corn closed down 11 1/2 cents at $6.76 3/4, while March closed down 11 1/2 cents at $6.81 3/4.
Retail Fertilizer Prices Mixed in Mid-September 2022
Fertilizer prices are mixed for the second week of September 2022. No fertilizers were up or down of any significance looking back to last month. Five of the eight major fertilizers were slightly lower compared to last month while the remaining three were slightly higher.