TREND: The trend in December corn is up.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 394,912 contracts in corn as of Nov. 30, a decrease of 22,177 contracts from the previous week, down from the largest position in five months.
COMMERCIAL OUTLOOK: Commercial net shorts continue to favor the short side as of Nov. 30. The March contract is priced 2 cents below the May contract, a neutral to bullish indication of demand for corn.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
PRICE PROBABILITY: The active futures contract (Mar) increased slightly to the 65th percentile, a slightly expensive location...
DTN's Daily Basis Comments
Corn, Soybean Basis Steady
Corn and soybean basis was steady Friday, while soft red winter wheat basis was stronger and hard red winter and spring wheat basis was weaker.