TREND: The trend in December corn is down.
NONCOMMERCIAL OUTLOOK: Due to technical issues with a third-party provider, CFTC data was postponed again Friday, March 17. The comments below are for the latest data available, as of March 7. Noncommercial traders held a net-long futures position of 103,272 contracts in corn as of March 7, a decrease of 39,859 contracts, the smallest net long position in over two years.
COMMERCIAL OUTLOOK: Commercials have a relatively small net short position as of March 7, likely sales made against cash positions. The December contract is priced 8 3/4 cents below the March 2024 contract, a bearish indication of new-crop demand. The national corn basis is the second strongest in over 20 years, a bullish...
DTN's Grain Quick Takes
Posted 08:33 --May corn is up 3 3/4 cents and May soybeans are up 7 cents. May KC wheat is up 9 1/2 cents and May Minneapolis wheat is up 8 cents. April crude oil is up $1.00 and Dow Jones futures are up 343 points.