TREND: The trend for March corn is up.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 224,423 contracts net long in corn as of December 10th, an increase of 87,195 contracts on a week that saw corn prices trade higher.
COMMERCIAL OUTLOOK: Commercials in corn held a net short of 183,482 contracts as of December 10th, an increase of 81,514 contracts week over week as commercial traders were likely able to get some corn bought in the cash market due to higher prices. The March 2025 contract is priced 7 1/4 cents below the May 2025 contract, this spread has weakened in the past week but remains overall tight. National corn basis has slipped slightly in the past week as commercials have likely obtained comfortable short-term...
Commentary
Ethanol RINs Mixed, Cash Prices Higher Friday
Ethanol RINs were mixed, and ethanol cash prices were higher on Friday. March corn closed down 1 1/2 cents at $4.22 and May corn was down 1 3/4 cents at 4.49 1/2.
Most Fertilizer Prices Up Slightly
Retail fertilizer prices continue to be mostly higher compared to last month. Six of the eight major fertilizers were higher, while the remaining two were slightly lower. None of these nutrients had a sizable price increase or decrease. DTN designates a significant move as anything 5% or more.