TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 120,964 contracts as of Oct. 14, an increase of 28,611 contracts during the CFTC reporting period as traders had sold ahead of the peak of U.S. corn harvest.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 140,492 contracts as of Oct. 14, the most recent CFTC data. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, a spread that widened slightly over the week. DTN's National Corn Index implies a corn basis of 47 cents under the March board, about a penny firmer week-over-week but the third weakest of the past decade for late...
DTN's Daily Basis Comments
Corn Basis Stronger
Corn and soft red winter wheat was stronger, while soybean basis and spring wheat basis was weaker on Friday and hard red winter wheat basis was steady.