TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 34,698 contracts as of Feb. 3, and were net-sellers of 3,027 contracts during the CFTC reporting period after prices hit technical resistance the previous week.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 52,916 contracts as of Feb. 3, and were net-buyers of 225 contracts through the CFTC reporting period. The March 2026 contract is priced 8 1/2 cents lower than the May 2026 contract, slightly wider (more carry) through the week. National average corn basis firmed 2 cents through the week to 32 cents under the March board.
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DTN's Grain Quick Takes
OMAHA (DTN) -- Posted 10:30 -- March corn is up 3/4 cent per bushel, March soybeans are up 12 1/2 cents, March KC wheat is up 3/4 cent, March Chicago wheat is down 1 cent and MIAX March Minneapolis wheat is unchanged.