Sideways Trend Dominates Corn Futures Market

The trend in most active corn futures is currently sideways. According to data from the CFTC, noncommercial traders held a net-long position of 244,912 contracts as of August 11. However, they trimmed their long positions slightly ahead of the August WASDE report, likely due to seasonal price tendencies.

Commercial traders, on the other hand, held a net-short position of 198,128 contracts as of August 11. They were net-buyers of 10,217 contracts through the CFTC reporting period, indicating that they are taking advantage of the current market conditions.