TREND: The trend for July corn is revised to higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 340,740 contracts as of April 28 and were net-buyers of 77,008 contracts during the CFTC reporting period as traders continued their bullish outlook given the high cost of fertilizer around the globe.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 282,129 contracts as of April 28 and were net-sellers of 73,884 contracts through the CFTC reporting period. The July 2026 contract is priced 4 1/4 cents lower than the September 2026 contract, narrowing (less carry) slightly through the week but still among the highest degree of carry between the two contracts...
DTN's Grain Quick Takes
OMAHA (DTN) -- Posted 08:32 -- July corn is down 3 1/4 cents per bushel, July soybeans are down 5 3/4 cents, July KC wheat is down 10 3/4 cents, July Chicago wheat is down 6 1/2 cents and MIAX July Minneapolis wheat is down 8 3/4 cents.