TREND: The trend for July corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-short futures position of 81,059 contracts as of June 3, an increase of 60,726 contracts as solid crop conditions and friendly weather kept sellers active during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 104,725 contracts as of June 3, an increase of 52,161 contracts, week-over-week. The July 2025 contract is priced 8 1/2 cents higher than the September 2025 contract, a spread that weakened significantly over the past week. DTN's National Cash Index indicated that corn basis firmed over the most recent week to 23 cents under the July board, an improvement of 1 cent on the...
DTN's Daily Basis Comments
Tuesday Morning Basis Comments
Soybean and soft red winter wheat basis strengthened on Monday, while corn and hard red winter and hard red spring wheat basis held steady.