TREND: The trend in most active corn futures is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 254,320 contracts as of July 28, and were net-buyers of 67,670 contracts during the CFTC reporting period as traders continued to build a bullish price outlook with conditions across the U.S. Corn Belt turning hot and dry through the second half of July.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 203,931 contracts as of July 28, and were net-sellers of 64,677 contracts through the CFTC reporting period. The September 2026 contract is priced 23 cents lower than the December 2026 contract, firming slightly through the week but still among the highest...
DTN's Daily Basis Comments
Soybean Basis Weaker
Soybean and hard red winter wheat basis was weaker Wednesday, while corn, spring wheat and soft red winter wheat basis was steady.