TREND: The trend for May corn is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 375,360 contracts as of March 24, and were net-buyers of 63,018 contracts during the CFTC reporting period as prices rallied on bullish influence from energy markets due to the ongoing war in the Middle East.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 314,222 contracts as of March 24, and were net-sellers of 58,599 contracts through the CFTC reporting period. The May 2026 contract is priced 11 3/4 cents lower than the July 2026 contract, widening (more carry) through the week, and still among the highest degree of carry between the two contracts...
Commentary
Ethanol RINs Higher, Ethanol Cash Prices Lower Thursday
Ethanol RINs were higher and ethanol cash prices were lower on Thursday. May corn closed down 2 cents at $4.52 1/4, and July corn was down 1 3/4 cents at $4.63 1/4.
4 Fertilizer Prices Rise Double-Digits; Anhydrous Jumps Above $1,000 Per Ton
All eight major fertilizers were higher than a month ago for the fourth week of March 2026. Five fertilizers were significantly more expensive, which DTN designates as anything 5% or more. Four of the five fertilizers saw double-digit price increases compared to last month.