TREND: The trend in December corn is up.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 143,424 net-shorts in corn as of April 30, a decrease of 16,744 contracts on the week as specs steadily, but slowly respond to corn's higher prices.
COMMERCIAL OUTLOOK: Commercials in corn decreased net longs to 157,105 as of April 30, still offering support at corn's higher prices. The December 2024 contract is priced 12 1/2 cents below the March 2025 contract, a bearish indication of commercial demand for new-crop corn. DTN's national corn basis has steadily improved since harvest and is roughly average for this time of year.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early...
DTN's Grain Quick Takes
Posted 12:56 --July corn is up 2 1/4 cents per bushel, July soybeans are up 15 3/4 cents per bushel. July KC wheat is up 14 1/4 cents per bushel, July Chicago wheat is up 17 3/4 cents per bushel and July Minneapolis wheat is up 5 1/2 cents.