TREND: The trend for May corn is revised to sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 248,881 contracts as of April 14, and were net-sellers of 41,938 contracts during the CFTC reporting period as traders have been active securing profits after building their largest length in corn futures in over a year by late March.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 202,187 contracts as of April 14, and were net-buyers of 30,782 contracts through the CFTC reporting period. The May 2026 contract is priced 8 3/4 cents lower than the July 2026 contract, narrowing (less carry) through the week for the third straight week. National average corn...
DTN's Daily Basis Comments
Corn, Soybean Basis Stronger
Soybean, corn and soft red winter wheat basis levels were stronger on Friday, while spring wheat and hard red winter wheat basis was steady.