TREND: The trend in December corn is up.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 394,912 contracts in corn as of Nov. 30, a decrease of 22,177 contracts from the previous week, down from the largest position in five months.
COMMERCIAL OUTLOOK: Commercial net shorts continue to favor the short side as of Nov. 30. The March contract is priced 2 cents below the May contract, a neutral to bullish indication of demand for corn.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
PRICE PROBABILITY: The active futures contract (Mar) increased slightly to the 65th percentile, a slightly expensive location...
Commentary
Cash Ethanol Prices, Ethanol RINs Lower
March corn closed up 7 1/4 cents at $5.84 on Friday, and May corn was up 7 cents at $5.86 1/4.
Nitrogen Fertilizer Prices End November 2021 at All-Time Highs
Prices for seven of the eight major fertilizers tracked by DTN saw considerable moves higher the fourth week of November 2021. Leading the way higher was anhydrous, which was up 33% from a month prior.