TREND: The trend in December corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 279,288 contracts in corn as of Oct. 12, a decrease of 17,717 contracts from the previous week.
COMMERCIAL OUTLOOK: Commercial net shorts continue to favor the short side as of Oct. 12. The December contract is priced 8 1/2 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 eased back to the 51st percentile, a neutral location in relation to the five-year range and still above the old...
Commentary
Cash Ethanol Prices, Ethanol RINs Higher Wednesday
December corn closed up 9 cents per bushel at 5.39 1/4, and March corn was up 8 3/4 cents at $5.47 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.