TREND: The trend for May corn is up for now.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held a net-long futures position of 268,357 contracts of corn as of March 11, a decrease of 67,081 contracts on a week that saw corn prices trade moderately higher during the CFTC reporting period.
COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 216,719 contracts as of March 11, a decrease of 56,110 contracts, week-over-week. The May 2025 contract is priced 8 3/4 cents below the July 2025 contract, a spread which widened slightly throughout the week. DTN's National Corn Basis continues to climb over the past week to 35 cents under the May board, an improvement of 2 cents, week-over-week.
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DTN's Daily Basis Comments
Thursday Morning Basis Comments
Corn, soybean, spring wheat and soft red winter basis was steady while hard red winter wheat basis was weaker on Thursday.