TREND: The trend for December corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 92,353 contracts as of Oct. 7, an increase of 11,046 contracts during the CFTC reporting period as traders had sold ahead of the peak of U.S. corn harvest.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 117,716 contracts as of Oct. 7, the most recent CFTC data. The December 2025 contract is priced 12 cents lower than the March 2026 contract, a spread that narrowed over the week, tying the firmest close since April. DTN's National Corn Index implies a corn basis of 36 cents under the December board, about a penny firmer week over week and the firmest for the...
Commentary
Ethanol RINS Higher, Ethanol Cash Prices Mixed
Ethanol RINS were higher and ethanol cash prices were mixed. December corn closed up 8 1/4 cents at $4.31 3/4 and March corn was up 7 cents at $4.45 1/4.
Six Fertilizers Lead Nutrient Prices Higher
Fertilizer prices continued to be mostly higher for the third week of November 2025. For the second week in a row, six of the eight major fertilizers were higher in price compared to last month while the other two were slightly less expensive. No fertilizers had a significant price move, which DTN designates as anything 5% or more.