TREND: The trend in December corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 277,029 contracts in corn as of Oct. 19, a decrease of 2,259 contracts from the previous week.
COMMERCIAL OUTLOOK: Commercial net shorts continue to favor the short side as of Oct. 19. The December contract is priced 8 1/4 cents below the March contract, a bearish indication of demand for new-crop corn.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
PRICE PROBABILITY: The active futures contract increased to the 54th percentile, a neutral location in relation to the five-year range and still above the old...
Commentary
Cash Ethanol Closes Mixed, Ethanol RINs Close Lower
December corn closed unchanged at 5.38/bu and March corn closed unchanged at $5.46 3/4.
Urea Price Climbs 26% Since Mid-September, a $147-Per-Ton Jump
Drastic price increases continue to define the retail fertilizer market as farmers report more problems locking in prices. The average cost of urea is 26% more expensive than last month. DAP, MAP, potash, anhydrous UAN28 and UAN32 saw 11% to 19% increases.