TTREND: The trend in most active corn futures is higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 535,801 contracts as of Sept. 22, closing in on the all-time record of 547,677 contracts set in late January of 2021. Traders were net-sellers of 6,583 contracts as prices have been in a holding pattern ahead of the advancing U.S. harvest.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 474,811 contracts as of Sept. 22, and were net-buyers of 2,034 contracts through the CFTC reporting period. The December 2026 contract is priced 13 3/4 cents lower than the March 2027 contract, a spread which has now firmed in seven of the past eight weeks as crop size...
DTN's Daily Basis Comments
Corn Basis Weaker
Soybean, spring wheat, hard red winter wheat and soft red winter basis was steady Wednesday, while corn basis was weaker.