TREND: The trend in most active corn futures is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 542,999 contracts as of Sept. 8, closing in on the all-time record of 547,677 contracts set in late January of 2021. Traders were net-buyers of 6,256 contracts as bullish momentum picked up on lower U.S. yield forecasts as well as Black Sea grain supplies being cut off by recent attacks against shipping infrastructure.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 470,605 contracts as of Sept. 8 and were net-buyers of 6,216 contracts through the CFTC reporting period. The December 2026 contract is priced 15 cents lower than the March 2027...
Commentary
Ethanol RINs Mixed, Ethanol Cash Prices Higher Wednesday
Ethanol RINs were mixed and ethanol cash prices were higher Wednesday. December corn closed down 1 1/2 cents at $5.34 1/4, and March corn was down 1 1/2 cents at $5.48 3/4.
Fertilizer Prices Continue Lower for 6 of 8 Major Nutrients
For the third week in a row, six of the eight major fertilizers are lower compared to last month with the remaining two nutrients being slightly higher. However, no fertilizer had a sizeable price move in either direction. DTN designates a significant move as anything 5% or more.