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DTN's Daily Basis Comments

DTN Daily Basis Comments

Corn Basis Stronger

Soybean basis was steady, while corn, soft red winter wheat and spring wheat basis was stronger Thursday and hard red winter basis was weaker.

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Market Strategies

CORN Strategies Snapshot

TREND: The trend in December corn is down.

NONCOMMERCIAL OUTLOOK: Noncommercial traders held 232,604 net-shorts in corn as of Feb. 27, a decrease of 33,463 contracts on the week, pulling back from the largest net short position on record.

COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 250,628 as of Feb. 27, lightening positions after prices hit a new low of $4.46. The December contract is priced 13 3/4 cents below the Mar 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis is a little above average for this time of year, sending mixed signals of corn demand.

SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early...

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