TREND: The trend in most active corn futures is higher for now, but is close to being revised to sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 358,367 contracts as of Oct. 13, net-sellers of 94,106 contracts after the bearish October WASDE added over 400 mb to new-crop U.S. corn supplies compared to the September report.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 326,958 contracts as of Oct. 13, and were net-buyers of 83,994 contracts through the CFTC reporting period. The December 2026 contract is priced 12 1/4 cents lower than the March 2027 contract, firming (less carry) 2 1/4 cents through the week and to the narrowest weekly close for the...
Commentary
Grain and Energy Price Losses Weaken Ethanol Trade
Ethanol markets shifted lower as traders focused on the firm price pressure in the corn and crude oil market Tuesday. Limited additional market direction developed, allowing market prices to erode through the Tuesday trading session.
UAN32 Leads Fertilizer Prices Higher Again in First Week of October
Seven of the eight major fertilizers were more expensive than a month ago, with UAN32 posting the only significant increase. DTN considers a move of 5% or more to be significant.