TREND: The trend for December corn is revised to sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 51,186 contracts as of September 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 September 23, the most recent CFTC report. The December 2025 contract is priced 12 1/2 cents lower than the March 2026 contract, another 1 1/4 cents firmer this week on thoughts of lower than expected U.S. yields and extremely strong nearby demand. DTN's National Corn Index implies a corn basis of 37 cents under the...
Commentary
Ethanol RINS Lower, Ethanol Cash Prices Mixed
Ethanol RINS were lower and ethanol cash prices were mixed. December corn closed up 1 1/4 cents at $4.31 1/2 and March corn was up 1/4 cent at $4.44.
Anhydrous 8% Price Spike in One Month Leads Five Fertilizer Prices Higher
The average price of anhydrous rose 8% to $842 per ton in late October, leading five of eight fertilizers higher compared to one month ago.