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DTN's Daily Basis Comments

DTN Daily Basis Comments

Soybean Basis Stronger

Corn, soft red winter wheat and hard red spring wheat basis was steady, while soybean and hard red winter wheat basis was stronger Monday.

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  • Closing Market Comment

  • Grains Lower on Large Harvest Estimates, Improved Weather

MyDTN Premium Content Spotlight:

Market Strategies

CORN Strategies Snapshot

TREND: The trend for December corn is sideways.

NONCOMMERCIAL OUTLOOK: Noncommercial traders held 36,071 net-longs in corn as of October 8th, a switch of 43,264 contracts on a week that saw corn prices trade lower.

COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 20,228 as of October 8th, letting go of hedges as prices dropped. The December 2024 contract is priced 17 1/4 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis is the 6th strongest in 10 years for this time of year, a neutral-to-bearish indication of demand.

SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.

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