TREND: The trend for July corn is higher for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 358,102 contracts as of May 19 and were net-sellers of 25,435 contracts during the CFTC reporting period as traders booked profits on length amid renewed peace efforts in the Middle East and few issues for U.S. planting thus far.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 288,625 contracts as of May 19 and were net-sellers of 28,669 contracts through the CFTC reporting period. The July 2026 contract is priced 6 1/4 cents lower than the September 2026 contract, narrowing (less carry) slightly through the week but still among the highest degree of carry between...
DTN's Daily Basis Comments
Friday Morning Basis Comments
Corn, soybean, hard red winter wheat, spring wheat and soft red winter wheat basis was stronger.