TREND: The trend in December corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 204,857 net-shorts in corn as of April 16, an increase of 14,666 contracts on the week as prices stayed in a narrow, sideways range.
COMMERCIAL OUTLOOK: Commercials in corn increased net longs to 214,170 as of April 16, still offering support at these lower prices. The December contract is priced 12 3/4 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis has steadily improved since harvest and is the third strongest in 10 years for this date.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
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DTN's Grain Quick Takes
OMAHA (DTN) --July corn is up 1 1/2 cents per bushel, July soybeans are down 9 1/2 cents per bushel. July KC wheat is up 3 3/4 cents per bushel, July Chicago wheat is up 5 3/4 cents per bushel and July Minneapolis wheat is up 6 3/4 cents.