TREND: The trend for September corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 130,570 contracts as of June 24, an increase of 23,326 contracts on the week as Brazilian harvest pressure and friendly U.S. growing season weather kept sellers active during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 143,528 contracts as of June 24, an increase of 14,611 contracts week over week. The September 2025 contract is priced 15 1/4 cents lower than the December 2025 contract, a spread that held steady over the past week. DTN's National Cash Index indicated that corn basis improved over the last week, firming 3 cents to 15 cents...
DTN's Daily Basis Comments
Soybean Basis Stronger
Corn and soft red winter wheat basis was steady, while hard red winter wheat, soybean and spring wheat basis was stronger Thursday.