DTN Feed Corn Six Factors

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

NONCOMMERCIAL OUTLOOK: Noncommercial corn traders held a net-short futures position of 31,671 contracts as of Jan. 27 and were net-buyers of 20,033 contracts during the CFTC reporting period on strong world demand for U.S. corn and falling crop conditions in Argentina through January.

COMMERCIAL OUTLOOK: Commercial corn traders held a net-long position of 52,691 contracts as of Jan. 27 and were net-sellers of 15,353 contracts through the CFTC reporting period. The March 2026 contract is priced 7 3/4 cents lower than the May 2026 contract, steady through the week. National average corn basis firmed a penny through the week to 34 cents under the March board.

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 10th percentile, a very attractive location for buyers within the five-year range.

VOLATILITY: Three-month price volatility for the most active (March) corn contract held at 4% after prices traded just slightly lower on the week.