TREND: The trend for March corn is sideways for now.
NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 67,530 contracts as of Dec. 9, a decrease of 19,566 contracts during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 44,251 contracts as of Dec. 9, the most recent CFTC data. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, slightly less carry through the week. DTN's National Corn Index implies a corn basis of 40 cents under the March board, a penny firmer through the week.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
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DTN's Daily Basis Comments
Monday Morning Basis Comments
Corn, hard red winter wheat, soybean and spring wheat basis was steady Friday, while soft red winter wheat basis was weaker.