TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 67,530 contracts as of Dec. 9, a decrease of 19,566 contracts during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 44,251 contracts as of Dec. 9, the most recent CFTC data. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, slightly less carry through the week. DTN's National Corn Index implies a corn basis of 40 cents under the March board, a penny firmer through the week.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
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DTN's Daily Basis Comments
Wednesday Morning Basis Comments
Corn and spring wheat basis was weaker Tuesday, while soybean basis was steady and soft red winter wheat and hard red winter wheat basis was stronger.