TREND: The trend in March corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 271,873 contracts in corn as of Jan. 17, an increase of 38,078 contracts, responding to corn's higher prices on Tuesday.
COMMERCIAL OUTLOOK: Commercials increased their net shorts as of January 17 and are holding sales likely made against cash positions. The March contract is priced 1 3/4 cents above the May contract, a bullish indication of commercial demand. The national corn basis weakened slightly again, but remains the strongest in over 20 years, a bullish indication of commercial demand for cash corn.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early...
DTN's Daily Basis Comments
Corn, Soybean Basis Unchanged
Corn, soybean, and spring wheat basis was steady, while soft red winter wheat basis was stronger and hard red winter wheat was weaker Thursday.