TREND: The trend for December corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 51,186 contracts as of September 23, an increase of 15,017 contracts during the CFTC reporting period as traders turned to selling amid technical pressure in the corn market.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 79,646 contracts as of September 23, the most recent CFTC report. The December 2025 contract is priced 15 cents lower than the March 2026 contract, a spread that widened over the week as the rally in corn prices was likely successful in encouraging some movement in the cash market. DTN's National Corn Index implies a corn basis of 38 cents...
DTN's Daily Basis Comments
Soybean Basis Stronger
Soybean and spring wheat basis was stronger on Thursday, while corn, hard red winter wheat and soft red winter wheat basis was steady.