Grain Futures Post Reversals on Tuesday
Grain futures were uniformly lower early in Tuesday’s trade but reversed to finish off the lows and in some cases higher. Those reversals have failed to find much follow-through overnight, will buyers step in during regular trading hours?
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Corn |
Tuesday’s Recap July Corn futures closed at a one month low of 442’4 Tuesday, down 5’4 (1.23%). Across all maturities, volume was 511,493, with the July maturity seeing 241,737 traded. Combined open interest rose 11,001, or 0.70%, with July higher by 3,893 (0.58%) to 674,368. |
Technicals July corn futures continued to trade lower yesterday, testing and holding 4-star support then recovering some lost ground. That little recovery into the afternoon (on the back of a reversal back higher in beans and wheat) offered a glimmer of hope that we could be carving out a near term low, but the overnight trade has that in limbo with prices struggling to stay above our pivot pocket. The RSI is at 26.34, the most oversold levels since last June. Seasonally you’d think we’d be able to see some premium come into the markets from the lower end of the risk range. Looking back at last year, today/tomorrow mark the anniversary of last year’s high. |
Technical Levels of Importance
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Popular Options Option trading centered around the July 445 calls with 5,868 done and the July 425 puts with volume of 2,993. Options with the most open interest are the Dec 500 call with 34,195, and the Dec 400 put with 25,521. |
Volatility Update Corn implied volatility ended the session moderately higher as CVL increased 0.26 to settle at 23.86. Up by 0.0299%, historical volatility (as measured by the 30-day) closed the day at 19.44%. The CVL Skew closed the day higher, up by 0.32 to end at 2.62. |
Seasonal Tendencies Update (Updated on 5.12.25) Below is a look at historical price averages for July corn futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results). |
Commitment of Traders Update
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