TREND: The trend for July corn is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 340,740 contracts as of April 28 and were net-buyers of 77,008 contracts during the CFTC reporting period as traders continued their bullish outlook given the high cost of fertilizer around the globe.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 282,129 contracts as of April 28 and were net-sellers of 73,884 contracts through the CFTC reporting period. The July 2026 contract is priced 4 1/4 cents lower than the September 2026 contract, narrowing (less carry) slightly through the week but still among the highest degree of carry between the two contracts...
Commentary
Ethanol Futures Tumble Thursday
Late day pressure in financial markets sparked softness in all grain markets, leading to additional pressure in ethanol futures.
UAN, Anhydrous Lead Fertilizer Prices Higher in Last Week of April
Average retail prices for all eight major fertilizers were up from the previous month during the fourth full week of April 2026. Prices for three fertilizers were again up significantly, which DTN designates as anything 5% or more. The remaining five fertilizers were just slightly more expensive.