TREND: The trend for July corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 77,844 contracts as of June 16, and were net-sellers of 25,715 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, and weak outside energy influence amid a tentative peace agreement between the U.S. and Iran.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 32,471 contracts as of June 16, and were net-buyers of 20,651 contracts through the CFTC reporting period. The July 2026 contract is priced 8 cents lower than the September 2026 contract, still...
DTN's Grain Quick Takes
OMAHA (DTN) --July corn is down 5 1/4 cents per bushel, November soybeans are down 1 cent, September KC wheat is down 10 1/4 cents, September Chicago wheat is down 6 cents and MIAX September Minneapolis wheat is down 8 cents.