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...