TREND: The trend for July corn is downgraded to sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 199,942 contracts as of June 2 and were net-sellers of 102,060 contracts during the CFTC reporting period as traders rapidly moved to secure profits on long positions amid a good start to the U.S. growing season in terms of weather.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 111,394 contracts as of June 2 and were net-buyers of 120,125 contracts through the CFTC reporting period. The July 2026 contract is priced 9 1/4 cents lower than the September 2026 contract, still among the highest degree of carry between the two contracts through their...
DTN's Grain Quick Takes
OMAHA (DTN) -- Posted 12:51 -- July corn is down 8 1/4 cents per bushel, July soybeans are down 10 3/4 cents, July KC wheat is down 3 1/4 cents, July Chicago wheat is down 3 1/2 cents and MIAX July Minneapolis wheat is down 2 cents.