TREND: The trend for July corn is higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 383,537 contracts as of May 12 and were net-sellers of 49,847 contracts during the CFTC reporting period as traders booked profits on length amid renewed peace efforts in the Middle East and few issues for U.S. planting thus far.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 259,956 contracts as of May 12 and were net-buyers of 108,892 contracts through the CFTC reporting period. The July 2026 contract is priced 7 1/2 cents lower than the September 2026 contract, widening (more carry) through the week and to the highest degree of carry between the two contracts...
DTN's Grain Quick Takes
OMAHA (DTN) --July corn is up 2 cents and July soybeans are up 2 3/4 cents. July KC wheat is down 5 cents, July Chicago wheat is down 1 1/2 cents, and July MIAX Minneapolis wheat is down 4 cents. July crude oil is up $0.82 and Dow Jones futures are up 385 points.