TREND: The trend for May corn is revised to sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 290,819 contracts as of April 7, and were net-sellers of 43,938 contracts during the CFTC reporting period as traders have been active securing profits after building their largest length in corn futures in over a year by late March.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 232,969 contracts as of April 7, and were net-buyers of 40,674 contracts through the CFTC reporting period. The May 2026 contract is priced 10 cents lower than the July 2026 contract, narrowing (less carry) slightly through the week, but still among the highest degree of carry...
Commentary
Ethanol RINs Higher, Ethanol Cash Prices Lower Thursday
Ethanol RINs were higher and ethanol cash prices were lower Thursday. May corn closed down 2 3/4 cents per bushel at $4.48 1/2 and July finished down 2 3/4 cents per bushel at $4.57 3/4.
5 Fertilizers Significantly Cost More Than Month Ago, 4 by Double Digits
For the third week in a row, five fertilizers were significantly more expensive compared to a month ago. Four of the five rose by double digits for the first full week of April 2026.