TREND: The trend for March corn is up.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 462,381 contracts of corn as of Feb. 4, an increase of 18,506 contracts on a week that saw corn prices slightly higher during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net short position of 374,564 contracts as of Feb. 4, an increase of 18,605 contracts week over week. The March 2025 contract is priced 13 cents below the May 2025 contract, a spread that continues to widen. DTN's National Corn Basis has held steady over the past week, currently near 33 cents under the March board.
SEASONAL INDEX: Corn prices tend to peak in early June and...
Commentary
Ethanol RINs, Cash Prices Higher Thursday
Ethanol RINs and ethanol cash prices were higher on Thursday. March corn closed up 3 1/2 cents at $4.93 1/2 and May corn was up 2 cents at $5.06.
UAN32, Urea Lead Retail Fertilizer Prices Higher First Week of February
Average retail prices for six of the eight major fertilizers were up from last month during the first week of February 2025, with the price of two fertilizers -- urea and UAN32 -- up significantly. Prices for the remaining two fertilizers were slightly lower.