TREND: The trend for May corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 90,059 contracts as of March 3, and were net-buyers of 81,231 contracts during the CFTC reporting period as prices rallied on geopolitical tensions ahead of and after U.S. and Israel attacks on Iran.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 59,782 contracts as of March 3, and were net-sellers of 72,237 contracts through the CFTC reporting period. The May 2026 contract is priced 10 1/4 cents lower than the July 2026 contract, widening (more carry) through the week, and among the highest degree of carry between the two contracts through their trading life...
DTN's Daily Basis Comments
Monday Morning Basis Comments
Soybean, corn, soft red winter wheat, hard red winter wheat and spring wheat basis was weaker Friday.