TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 31,671 contracts as of Jan. 27 and were net-buyers of 20,033 contracts during the CFTC reporting period on strong world demand for U.S. corn and falling crop conditions in Argentina through January.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 52,691 contracts as of Jan. 27 and were net-sellers of 15,353 contracts through the CFTC reporting period. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, steady through the week. National average corn basis firmed a penny through the week to 34 cents under the March board.
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DTN's Daily Basis Comments
Corn Basis Stronger
Soybean basis was steady and corn basis was stronger Tuesday, while hard red winter wheat, spring wheat and soft red winter wheat basis was steady.