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 67,530 contracts as of Dec. 9, a decrease of 19,566 contracts during the CFTC reporting period.

COMMERCIAL OUTLOOK: Commercial corn traders held a net-short position of 44,251 contracts as of Dec. 9, the most recent CFTC data. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, slightly less carry through the week. DTN’s National Corn Index implies a corn basis of 40 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 held at 5% after prices traded slightly higher on the week.