DTN Corn Alert

(4/30/2026)

2025-26 and 2026-27: With the corn market rallying back toward March highs, and the new-crop December board recently setting new calendar year highs after nine straight higher sessions, I recommend rewarding the rally with the following sales. Firstly, sell 25% of the remaining old-crop 2025 corn in the cash market. Currently, the DTN Corn Index is likely near $4.28, but some carry may be able to be secured for delivery after planting. Also, unwind the previous put/call spread for 25% of production. The $4.70 puts can be sold for roughly 15 cents and the $5.25 calls bought back for roughly 4 cents, earning back the initial cost of the hedge give or take some slippage. At the same time, sell another 10% of new-crop 2026 production with December futures near $4.93. These sales leave 25% of old-crop corn unsold in cash, but hedged with the remaining options. 65% of new-crop corn remains unsold and we will monitor for a seasonal weather rally in May or June for further marketings.