TREND: The trend for July corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 175,429 contracts of corn as of April 29, a decrease of 44,414 contracts week-over-week as traders have returned to liquidating long positions over the past two weeks.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 128,654 contracts as of April 29, a decrease of 32,825 contracts week-over-week. The July 2025 contract is priced 29 1/4 cents higher than the September 2025 contract, a spread that weakened over the past week. DTN's National Corn Basis continued to climb over the past week to 30 cents under the July board, an improvement of 3 cents week-over-week.
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DTN's Grain Quick Takes
OMAHA (DTN) -- Posted 12:46 -- July corn is up 1 1/4 cents per bushel, July soybeans are down 3 1/2 cents, July KC wheat is up 4 1/4 cents, July Chicago wheat is up 5 cents and July Minneapolis wheat is up 1 cent.