TREND: The trend for May corn is higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 334,757 contracts as of March 31, and were net-sellers of 40,603 contracts during the CFTC reporting period as traders took profits on long positions ahead of what was expected (and proved) to be a record large corn stocks estimate in the March 31 report.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 273,643 contracts as of March 31, and were net-buyers of 40,579 contracts through the CFTC reporting period. The May 2026 contract is priced 11 cents lower than the July 2026 contract, narrowing (less carry) slightly through the week, but still among the highest degree...
Commentary
Ethanol RINs Higher, Ethanol Cash Prices Lower Thursday
Ethanol RINs were higher and ethanol cash prices were lower Thursday. May corn closed down 3 1/4 cents per bushel at $4.44 and July finished down 2 cents per bushel at $4.55.
5 Fertilizers Significantly More Expensive, Urea Up 34% From Month Ago
All eight major fertilizers were higher for the last week of March 2026 from a month ago. For the second week in a row, five fertilizers were significantly more expensive, which DTN designates as anything 5% or more. Four of the five fertilizers saw double-digit price increases compared to last month.