TREND: The trend for July corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 115,899 contracts of corn as of May 6, a decrease of 59,530 contracts week-over-week as traders continue to sell out of corn futures positions.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 75,297 contracts as of May 6, a decrease of 53,357 contracts week-over-week. The July 2025 contract is priced 20 3/4 cents higher than the September 2025 contract, a spread that weakened significantly over the past week. DTN's National Corn Basis continued to climb over the past week to 28 cents under the July board, an improvement of 2 cents week over week.
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DTN's Grain Quick Takes
OMAHA (DTN) --The June DJIA futures are up 204 points early Thursday. The June U.S. Dollar Index is down 0.0980 at 100.775, June gold is up $34.20 per ounce at $3,222.50 and June crude oil is down $1.42 per barrel at $61.73.