TREND: The trend for July corn downgraded to sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 103,559 contracts as of June 9, and were net-sellers of 96,383 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.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 53,122 contracts as of June 9, and were net-buyers of 58,272 contracts through the CFTC reporting period. The July 2026 contract is priced 8 cents lower than the September 2026 contract, still among the highest degree of carry between the two contracts through their trading...
Commentary
Ethanol RINs Mixed, Ethanol Cash Prices Higher Monday
Ethanol RINs were mixed and ethanol cash prices were higher Monday. July corn closed up 2 3/4 cents per bushel at $4.15 1/2 and September closed up 2 cents at $4.22 3/4.
Urea Moves Lower; 6 Fertilizers Continue To Be Slightly Higher
Retail fertilizer prices continue to be mostly higher compared to last month. However, two fertilizers were lower than a month ago: Urea by 5%, with an average price of $823/ton, and UAN32 slightly lower with an average price of $585/ton.