TREND: The trend in December corn is sideways.
NONCOMMERCIAL OUTLOOK: Noncommercial traders held 204,857 net-shorts in corn as of April 16, an increase of 14,666 contracts on the week as prices stayed in a narrow, sideways range.
COMMERCIAL OUTLOOK: Commercials in corn increased net longs to 214,170 as of April 16, still offering support at these lower prices. The December contract is priced 12 3/4 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 the third strongest in 10 years for this date.
SEASONAL INDEX: Corn prices tend to peak in early June and bottom in early October.
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DTN's Grain Quick Takes
OMAHA (DTN) --May corn is down 3 1/4 cents per bushel, July soybeans are steady. July KC wheat is up 19 cents per bushel, July Chicago wheat is up 14 cents per bushel and July Minneapolis wheat is up 14 cents.