TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 33,423 contracts as of Jan. 13 and were net-sellers of 93,535 contracts during the CFTC reporting period following a bearish surprise in the Crop Production and WASDE reports released by USDA on January 12.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 48,923 contracts as of Jan. 13 and were net-buyers of 90,776 contracts through the CFTC reporting period. The March 2026 contract is priced 7 1/4 cents lower than the May 2026 contract, firming slightly (less carry) through the week. National average corn basis was steady through the week at 36 cents under the...
DTN's Daily Basis Comments
Soybean Basis Stronger
Corn, spring wheat and hard red winter wheat basis was steady Thursday, while soybean and soft red winter wheat was stronger.