TREND: The trend for May corn is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 375,360 contracts as of March 24, and were net-buyers of 63,018 contracts during the CFTC reporting period as prices rallied on bullish influence from energy markets due to the ongoing war in the Middle East.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 314,222 contracts as of March 24, and were net-sellers of 58,599 contracts through the CFTC reporting period. The May 2026 contract is priced 11 3/4 cents lower than the July 2026 contract, widening (more carry) through the week, and still among the highest degree of carry between the two contracts...
Commentary
Ethanol RINs, Ethanol Cash Prices Higher Friday
Ethanol RINs and ethanol cash prices were higher on Friday. May corn closed down 5 cents at $4.62, and July corn was down 4 1/2 cents at $4.73 1/2.
Most Fertilizers' Prices Continue Higher, 4 Considerably More Expensive
Prices for six of the eight major fertilizers were higher for the third week of March 2026 compared to a month ago. Four fertilizers were significantly more expensive, which DTN designates as anything 5% or more. One fertilizer was slightly lower, and one was unchanged from the previous month.