TREND: The trend for July corn downgraded to sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 103,559 contracts as of June 9, and were net-sellers of 96,383 contracts during the CFTC reporting period as traders rapidly moved to secure profits on long positions amid a good start to the U.S. growing season in terms of weather.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 53,122 contracts as of June 9, and were net-buyers of 58,272 contracts through the CFTC reporting period. The July 2026 contract is priced 8 cents lower than the September 2026 contract, still among the highest degree of carry between the two contracts through their trading...
Commentary
Ethanol RINs Higher, Ethanol Cash Prices Lower Tuesday
Ethanol RINs were higher and ethanol cash prices were lower Tuesday. July corn closed down 1 3/4 cents per bushel at $4.13 3/4 and September closed down 1/4 cent at $4.22 1/2.
Most Fertilizers Lower for First Time Since First Week of February 2026
Average retail fertilizer prices are mostly lower for the first time since the first week of February 2026. Five fertilizers are lower in price while prices for the remaining three fertilizers were slightly higher compared to last month. Only two fertilizers had a significant move, which DTN designates as anything 5% or more.