TREND: The trend for December corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 136,869 contracts net-long in corn as of Nov. 26, a decrease of 26,432 contracts on a week that saw corn prices trade lower during the COT reporting period.
COMMERCIAL OUTLOOK: Commercials in corn held a net short of 96,320 contracts as of Nov. 26, a decrease of 16,831 contracts week over week. The March 2025 contract is priced 6 1/2 cents below the May 2025 contract, a spread that continues to contract indicating corn demand has become very front loaded in the marketing year. National corn basis continues to firm on strong domestic demand. Historically the 2024 basis still remains in the middle of the 10-year range.
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DTN's Daily Basis Comments
Friday Morning Basis Comments
Corn, hard red winter wheat, soft red winter wheat, soybean and spring wheat basis was steady Thursday.