TREND: The trend in December corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 47,760 net-shorts in corn as of September 10, another big decrease of 42,723 contracts on a week that saw corn prices trade lower.
COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 92,844 as of September 10, maintaining a bullish response to corn's cheap prices. The December 2024 contract is priced 17 3/4 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis has eased lately and is tied for the 6th strongest in 10 years for this time of year, a neutral-to-bearish indication of demand.
SEASONAL INDEX: Corn prices tend to...
DTN's Daily Basis Comments
Tuesday Morning Basis Comments
Soybean and corn basis was weaker, while soft red winter wheat, hard red winter wheat and hard red spring wheat basis was steady Monday.