TREND: The trend in most active corn futures is revised to sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 286,689 contracts as of Oct.20, net-sellers of 71,678 contracts as traders rushed to secure profits following the recent bearish USDA updates and advancement of U.S. harvest.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 261,080 contracts as of Oct. 20, and were net-buyers of 65,878 contracts through the CFTC reporting period. The December 2026 contract is priced 14 cents lower than the March 2027 contract, fading (adding carry) 2 1/4 cents through the week as traders appear uncertain of where national corn productivity will land in...
Commentary
Ethanol RINs Lower and Ethanol Cash Prices Higher Thursday
Ethanol RINs were lower and ethanol cash prices were higher Thursday. December corn closed down 1/2 cent per bushel at $4.51 1/4 and March closed down 1/4 cents at $4.64 3/4.
Fertilizer Prices Continue to Climb: UAN28 Posts 6% Increase in Latest DTN Survey
Seven of the eight major fertilizers were more expensive than a month ago, with UAN28 posting the only significant increase at 6% higher. DTN considers a move of 5% or more to be significant.