TTREND: The trend in most active corn futures is higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 535,801 contracts as of Sept. 22, closing in on the all-time record of 547,677 contracts set in late January of 2021. Traders were net-sellers of 6,583 contracts as prices have been in a holding pattern ahead of the advancing U.S. harvest.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 474,811 contracts as of Sept. 22, and were net-buyers of 2,034 contracts through the CFTC reporting period. The December 2026 contract is priced 13 3/4 cents lower than the March 2027 contract, a spread which has now firmed in seven of the past eight weeks as crop size...
Commentary
Ethanol RINs and Ethanol Cash Prices Mixed Wednesday
Ethanol RINs and ethanol cash prices were mixed Wednesday. December corn closed down 21 1/4 cents per bushel at $5.00 3/4 and May closed down 20 1/2 cents per bushel at $5.15 1/2 down 1/2 cent.
Anhydrous Leads Fertilizer Prices Higher, Up 25% From a Year Ago
For the second week in a row, six of the eight major fertilizers are slightly higher compared to the previous month. Only one fertilizer, anhydrous, was notably more expensive. DTN designates a significant move as anything 5% or more.