TREND: The trend in December corn is down.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 175,513 net-shorts in corn as of March 19, a decrease of 13,517 contracts on the week and falling back from the largest net short position on record four weeks earlier.
COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 183,490 as of March 19, glad to lighten positions on the rally after prices bounced off a new December low of $4.46 in late February. The December contract is priced 13 3/4 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis is a little below average for this time of year.
SEASONAL INDEX: Corn prices tend to peak...
DTN's Daily Basis Comments
Thursday Morning Basis Comments
Corn basis was stronger, while soybean, hard red winter wheat, spring wheat and soft red winter wheat basis was steady Tuesday.