TREND: The trend in most active corn futures is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 440,915 contracts as of Aug. 25, record length for late August. Traders were net-buyers of 138,773 contracts as bullish momentum picked up on lower U.S. yield forecasts as well as Black Sea grain supplies being cutoff by recent attacks against shipping infrastructure.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 374,608 contracts as of Aug. 25, and were net-sellers of 129,008 contracts through the CFTC reporting period. The December 2026 contract is priced 14 3/4 cents lower than the March 2027 contract, strengthening (less carry) through...
Commentary
Ethanol RINs Steady, Ethanol Cash Prices Mixed Tuesday
Ethanol RINs were steady and ethanol cash prices were mixed Tuesday. December corn closed up 8 1/4 cents at $5.46, and March corn was up 8 cents at $5.60 1/4.
Fertilizer Prices Fall as UAN28, Urea Lead the Way Lower
Fertilizers appear to shift lower once again. Six of the eight major fertilizers are lower compared to last month, with the remaining two nutrients being slightly higher. Two fertilizers are leading the way to the downside. DTN designates a significant move as anything 5% or more.