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DTN's Grain Quick Takes

OMAHA (DTN) --July corn is up 11 cents per bushel, July soybeans are up 25 1/2 cents per bushel. July KC wheat is up 5 1/2 cents per bushel, July Chicago wheat is down 3 cents per bushel and July Minneapolis wheat is down 1 1/4 cents.

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  • Closing Market Comment

  • Corn, Soybean Prices Close Higher Thursday, Disrupt Selling Streak

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Market Strategies

CORN Strategies Snapshot

TREND: The trend in December corn is down.

NONCOMMERCIAL OUTLOOK: Noncommercial traders held 51,632 net-shorts in corn as of May 28, an increase of 9,805 contracts on the week as specs slightly increased their bearish bets.

COMMERCIAL OUTLOOK: Commercials in corn increased net longs to 90,934 as of May 28, still willing to support current 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, but is below the 10-year average for this time of year.

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

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