TREND: The trend in December corn is sideways, a possible early end to harvest pressure.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 265,501 contracts in corn as of Sept. 21, an increase of 6,867 contracts from the previous week, but still among the lowest positions in 11 months.
COMMERCIAL OUTLOOK: Commercial net shorts are also lighter but continue to favor the short side as of Sept. 21. The December contract is priced 7 1/2 cents below the March contract, a bearish indication of demand for new-crop corn.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
PRICE PROBABILITY: The active futures...
DTN's Daily Basis Comments
Soybean, Corn Basis Weaker
Corn, soybean and spring wheat basis was weaker, while hard red winter wheat and soft red winter wheat basis was steady Monday.