TREND: The trend for December corn is sideways.
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 Sept. 23, the most recent CFTC report. The December 2025 contract is priced 13 3/4 cents lower than the March 2026 contract, a spread that narrowed another 2 cents on the week on ideas of lower U.S. corn yields and very strong nearby demand. DTN's National Corn Index implies a corn basis of 41 cents under the December board...
DTN's Daily Basis Comments
Corn, Soybean Basis Stronger
Corn, soybean and spring wheat basis was stronger, while HRW wheat and SRW wheat basis was steady.