TREND: The trend for September corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 130,570 contracts as of June 24, an increase of 23,326 contracts on the week as Brazilian harvest pressure and friendly U.S. growing season weather kept sellers active during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 143,528 contracts as of June 24, an increase of 14,611 contracts week over week. The September 2025 contract is priced 15 1/4 cents lower than the December 2025 contract, a spread that held steady over the past week. DTN's National Cash Index indicated that corn basis improved over the last week, firming 3 cents to 15 cents...
Commentary
Ethanol RINs Mixed, Cash Prices Higher
Ethanol RINs were mixed and ethanol cash prices were higher. September corn was up 7 1/2 cents at $4.11 1/2 and December corn was up 6 cents at $4.27.
If Iran Closes Strait of Hormuz It Could Affect Urea Movement
For the second week in a row, average retail prices for all fertilizers saw only slight movement -- mostly to the higher side. However, according to one expert, the fertilizer market is intently watching Iran's response to the U.S. attack on Iran's nuclear facilities this past weekend. Roughly 52% of global urea exports come from the Middle East.