TREND: The trend for July corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 77,844 contracts as of June 16, and were net-sellers of 25,715 contracts during the CFTC reporting period as traders rapidly moved to secure profits on long positions amid a good start to the U.S. growing season in terms of weather, and weak outside energy influence amid a tentative peace agreement between the U.S. and Iran.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 32,471 contracts as of June 16, and were net-buyers of 20,651 contracts through the CFTC reporting period. The July 2026 contract is priced 8 cents lower than the September 2026 contract, still...
Commentary
Ethanol RINs Higher, Ethanol Cash Prices mixed Wednesday
Ethanol RINs were higher and ethanol cash prices were mixed Wednesday. July corn closed down 2 3/4 cents per bushel at $4.07 and September closed down 2 cents at $4.15 3/4.
Urea, UAN32 Leads Majority of Fertilizers' Prices Lower
Retail fertilizer prices were mostly lower for the second week in a row, according to retail fertilizer prices tracked by DTN for the third week of June 2026. Leading the fertilizers lower were urea and UAN32. Urea was 12% less expensive with an average price of $731/ton while UAN32 was 7% lower compared to last month and had an average price of $544/ton.