Sideways Trend Hits Corn Futures Amidst Hot and Dry Conditions

Corn futures have taken on a sideways trend for now, according to recent data from DTN Progressive Farmer. The shift is evident in the most active corn futures contracts.

The non-commercial traders' outlook remains bullish, with a net-long position of 255,068 contracts as of August 4. This reflects their continued optimism for late summer prices amidst hot and dry conditions across the U.S. Corn Belt throughout July.

In contrast, commercial corn traders have maintained a net-short position of 208,345 contracts, indicating their expectation of lower prices in the future. The September 2026 contract price has decreased by 23 cents relative to the December 2026 contract price.