TTREND: The trend in most active corn futures is higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 509,501 contracts as of September 29, net-sellers of 26,300 contracts as traders booked profits with few bullish details emerging from trade meetings between President Trump and China's President Xi.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 448,508 contracts as of Sept. 29 and were net-buyers of 26,303 contracts through the CFTC reporting period. The December 2026 contract is priced 14 cents lower than the March 2027 contract, weakening (adding carry) through the week but in an overall strengthening trend since late July as crop size estimates...
Commentary
Ethanol RINs Higher and Ethanol Cash Prices Lower Friday
Ethanol RINs were higher and ethanol cash prices were lower Friday. December corn closed down 5 1/4 cents per bushel at $4.97 3/4 and May closed up 1 1/2 cents per bushel at $5.11 1/2.
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.