MARKETS NEWS
Darin Newsom DTN Senior Analyst
Sun Feb 2, 2014 11:17 AM CST

Ag Markets: Weekly Analysis

Corn: The March contract closed 5.50cts higher. The secondary (intermediate-term) trend on the weekly chart is sideways to up. Weekly stochastics remain bullish, while the weekly CFTC Commitments of Traders report showed noncommercial traders once again covering a portion of their net-short-futures position (as of the week ending Tuesday, January 28). The March contract remains in a range between roughly $4.20 and $4.40. National average basis (DTN National Corn Index minus the March futures contract) remains firm at 19 cents under while the trend in the March to May futures spread is up (bullish).

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