TREND: The trend for December corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 51,186 contracts as of Sept. 23, an increase of 15,017 contracts during the CFTC reporting period as traders turned to selling amid technical pressure in the corn market.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 79,646 contracts as of Sept. 23, the most recent CFTC report. The December 2025 contract is priced 13 3/4 cents lower than the March 2026 contract, a spread that narrowed over the week. DTN's National Corn Index implies a corn basis of 37 cents under the December board, about a penny firmer week over week, but more or less sideways through the...
Commentary
Corn Market Weakness Impacts Ethanol Prices
Despite strong gains in Crude Oil and RBOB gasoline trade, the double-digit report-based losses developing in corn futures Friday afternoon led to lower ethanol price levels at the end of the week. December corn closed down 11 1/4 cents per bushel at $4.30 1/4 and March corn was down 11 1/2 cents at $4.44. For the week, December corn closed up 3 cents and March corn was up 2 cents.
Anhydrous Again Leads Half of Retail Fertilizer Prices Higher
Average retail prices for half of the eight major fertilizers were higher, and prices for the other half were lower during the first week of November 2025. The price of only one fertilizer moved significantly: Anhydrous was 5% more expensive than last month.