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...