TREND: The trend in most active corn futures is higher for now, but is close to being revised to sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 452,473 contracts as of Oct. 6, net-sellers of 57,028 contracts after the bearish September 30 stocks data added 173 mb of corn to the 2025-26 carryout.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 410,952 contracts as of Oct. 6, and were net-buyers of 37,556 contracts through the CFTC reporting period. The December 2026 contract is priced 14 1/2 cents lower than the March 2027 contract, weakening (adding carry) through the week. National average corn basis firmed through the past week to 40 cents under...
Commentary
Ethanol RINs and Ethanol Cash Prices Mixed Wednesday
Ethanol RINs and ethanol cash prices were mixed Wednesday. December corn closed down 2 cents per bushel at $4.80 3/4 and March closed down 2 1/4 cents at $4.94 1/2.
UAN32 Leads Fertilizer Prices Higher Again in First Week of October
Seven of the eight major fertilizers were more expensive than a month ago, with UAN32 posting the only significant increase. DTN considers a move of 5% or more to be significant.