TREND: The trend for September corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 133,174 contracts as of Aug. 12, an increase of 25,206 contracts as speculators added to their bearish outlook.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 15,179 contracts as of Aug. 12, an increase of 7,154 contracts week over week. The September 2025 contract is priced 21 1/2 cents lower than the December 2025 contract, a spread that widened again through the most recent week, indicating a comfortable level of old crop supplies. DTN's National Cash Index indicated that corn basis faded 2 cents over the most recent week to 17 cents under the September board.
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DTN's Daily Basis Comments
Friday Morning Basis Comments
Corn basis was higher, while soybean basis was weaker and hard red spring wheat, soft red winter wheat and hard red winter wheat basis held steady on Thursday.