TREND: The trend in December corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 101,233 net shorts in corn, an increase of 13,245 in the week ended Sept. 19 as specs continue to add to bearish positions as harvest approaches.
COMMERCIAL OUTLOOK: Commercials in corn increased net longs to 134,756 as of Sept. 19, a loyal show of support for corn's lower prices. The December contract is priced 15 cents below the March 2024 contract, a bearish indication of new-crop demand. DTN's national corn basis continues to weaken and is now the 6th strongest since 2010 for this time of year.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October....