TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 60,112 contracts as of Jan. 6, an increase of 6,920 contracts during the CFTC reporting period as traders expect 2025 corn production estimates to decrease in the January USDA reports.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 41,853 contracts as of Jan. 6, net-sellers of 15,502 contracts through the CFTC reporting period. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, holding steady through the week. National average corn basis firmed 2 cents through the week to 36 cents under the March board.
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DTN's Daily Basis Comments
Wednesday Morning Basis Comments
Corn, soybean, soft red winter wheat and hard red winter wheat basis was steady Tuesday, while spring wheat basis was weaker.