TREND: The trend for July corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 18,106 contracts of corn as of May 13, a decrease of 97,793 contracts week over week as traders continue to sell out of corn futures positions.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 13,151 contracts as of May 13, a switch of 88,448 contracts from the previous week's net-short position of 75,297 contracts. The July 2025 contract is priced 20 cents higher than the September 2025 contract; a spread has held steady over the past week. DTN's National Corn Basis has leveled out over the past week to 27 cents under the July board, an improvement of 1 cents week over...
Commentary
Ethanol RINs, Cash Prices Higher
Ethanol RINs and ethanol cash prices were higher Tuesday. July corn closed up 7 cents per bushel at $4.54 1/2 and September corn was up 7 cents at $4.35 1/4.
Urea, UAN Lead Fertilizer Prices Higher Again, With UAN32 Up 10%
Once again, all eight of the major fertilizers were higher compared to last month. Three fertilizers (urea, UAN28 and UAN32) had a sizable price increase from a month ago, for the second consecutive week. DTN designates a significant move as anything 5% or more.