Grain Markets Softer to Start the Week
Grain markets are relatively quiet in the early morning trade with a holiday tomorrow and July options expiration on Friday.
If you’re in July grain futures, you may want to consider exiting or rolling positions with volume dwindling ahead of first notice day a week away.
Corn
Friday’s Recap
Corn futures were lower Friday with the Dec contract finishing the session at 441’2, off 2’6. Combined volume was 475,830, with Dec seeing 117,711 change hands. Across all maturities, open interest decreased 17,787, or 1.12%, to 1,564,952. Dec gained 9,690 (1.77%), finishing at 557,324.
Technicals (December)
December corn futures got hit hard last Monday but battled back by the end of last week to erase the bulk of those losses. Futures so far this morning look similar to what we saw last Monday with prices retreating. The lack of a story during a historically softer time of year continues to keep a lid on prices and Funds comfortably short.
Technical Levels of Importance
Resistance: 447-450 1/2***, 452 1/2-456 1/2****
Pivot: 442-444
Support: 433 3/4-435 3/4****
Popular Options
The Dec 400 put saw the most traded with 2,162 contracts done. Calls with the most open interest are the Dec 500 strike (38,789), and for the puts are the Dec 400 strike (31,476).
Volatility Update
Corn implied volatility finished the session sharply up as CVL rose by 5.1 to close the day at 30.72, a one month high. The 30-day historical volatility ended the day unchanged for the day nan% to nan%. The CVL Skew finished the day moderately higher, up 0.66 to end the session at 6.69, a one month high.
Seasonal Tendencies Update
(Updated on 6.23.25)
Below is a look at historical price averages for December 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
*Updated data will be released this afternoon, due to last week’s mid-week Holiday.
The most recent Commitment of Traders report showed Funds were net sellers of 10k futures and options contracts through June 10rd. This is the largest net short since September.
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