TREND: The trend for December corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 51,186 contracts as of Sept. 23, an increase of 15,017 contracts during the CFTC reporting period as traders turned to selling amid technical pressure in the corn market.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 79,646 contracts as of Sept. 23, the most recent CFTC report. The December 2025 contract is priced 13 3/4 cents lower than the March 2026 contract, a spread that narrowed over the week. DTN's National Corn Index implies a corn basis of 37 cents under the December board, about a penny firmer week over week, but more or less sideways through the...
Commentary
Ethanol RINS, Ethanol Cash Prices Lower
Ethanol RINS and ethanol cash prices were lower. December corn closed up 4 1/2 cents at $4.34 3/4 and March corn was up 4 cents at $4.48.
Anhydrous Again Leads Half of Retail Fertilizer Prices Higher
Average retail prices for half of the eight major fertilizers were higher, and prices for the other half were lower during the first week of November 2025. The price of only one fertilizer moved significantly: Anhydrous was 5% more expensive than last month.