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DTN's Grain Quick Takes

OMAHA (DTN) --December corn is down 3/4 cent per bushel, November soybeans are down 4 1/4 cents per bushel. December KC wheat is up 1/4 cent per bushel, December Chicago wheat is up 1/2 cent per bushel and December Minneapolis wheat is down 2 1/4 cents.

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  • Reporter's Notebook

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Market Strategies

CORN Strategies Snapshot

TREND: The trend for December corn is sideways.

NONCOMMERCIAL OUTLOOK: Noncommercial traders held 36,071 net-longs in corn as of October 8th, a switch of 43,264 contracts on a week that saw corn prices trade lower.

COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 20,228 as of October 8th, letting go of hedges as prices dropped. The December 2024 contract is priced 17 1/4 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis is the 6th strongest in 10 years for this time of year, a neutral-to-bearish indication of demand.

SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.

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