TREND: The trend for December corn is revised to sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 51,186 contracts as of September 23, an increase of 15,017 contracts during the CFTC reporting period as traders turned to selling amid technical pressure in the corn market.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 79,646 contracts as of September 23, an increase of 11,273 contracts week over week. The December 2025 contract is priced 17 cents lower than the March 2026 contract, a spread that widened slightly through the week on higher corn supplies in the September Grain Stocks report. DTN's National Corn Index implies a corn basis of 42 cents under...
DTN's Daily Basis Comments
Soybean Basis Stronger
Soybean and spring wheat basis was stronger Thursday, while corn, SRW and HRW wheat was steady.