DTN Corn Six Factors

TREND: The trend for March corn is sideways for now.

NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-long futures position of 120,900 contracts as of Nov. 18, an increase of 77,887 contracts during the CFTC reporting period.

COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 84,962 contracts as of November 18, the most recent CFTC data. The March 2026 contract is priced 8 1/4 cents lower than the May 2026 contract, a spread that was slightly wider through the week. DTN’s National Corn Index implies a corn basis of 41 cents under the March board, a penny firmer through the week.

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

PRICE PROBABILITY: The front month (March) corn futures contract finished the most recent week at the 13th percentile, an attractive location for buyers within the five-year range.

VOLATILITY: Three-month price volatility for the most active (March) corn contract rose to 5% after prices traded slightly lower for the second consecutive week.