Grain Markets Stall at Technical Resistance

Grain Express

/ by Blue Line Futures

Grain Markets Stall at Technical Resistance

Grain markets traded into resistance early in yesterday’s trade but retreated after failing to attract new buyers. Is this a healthy pullback or a near term top?
 

Corn


Market Recap
Corn futures were lower Wednesday with the Dec contract finishing the session at 426’6, lower by 2’6. Combined volume was a light 275,972, with Dec seeing 146,851 done. Overall open interest increased by 10,403, or 0.68%, with Dec up 2,362 (0.28%) to 842,671.

Technicals (December)
December corn futures tagged the highs from the prior day’s trade but could not attract new buyers. As mentioned all week, our resistance pocket from 430-432 3/4 is significant, and a place to have potentially looked at reducing long exposure, or if you’re bearish, a place to express a bearish opinion. Zooming out, the chart remains constructive with higher lows and higher highs still intact. A break and close below 418 3/4-420 would neutralize that bias. You may have noticed that that support pocket is creeping higher, as it represents trendline support and the 20-day moving average, which are almost tethered to each other at this point.

Technical Levels of Importance
Resistance: 430-432 3/4****, 439 3/4**
Pivot: 423 1/2-424 3/4
Support: 418 3/4-420****, 414**, 396 3/4-399***, 383-387**


Popular Options
Option trading centered around the Oct 430 calls with 7,434 changing hands and the Oct 430 puts with volume of 3,407. In Dec options, the highest volume call was in the 430 strike with 5,574 done, and the 430 put leads with volume of 2,387. Option open interest is highest for the Dec 450 calls at 38,485, and the Dec 400 puts at 60,107.

Vol Update
As measured by CVL, implied volatility finished slightly lower, off by 0.18 to end at 19.69. The 30-day historical volatility closed the session up by 0.0638% to 29.57%. The CVL Skew ended the day moderately higher, up 0.27 to finish the session at 1.34, a one week high.

Seasonal Tendencies Update
(Updated on 9.15.25)

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
The most recent Commitment of Traders report showed Funds are net short 99,929 futures and options.

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

Performance Disclaimer

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results all of which can adversely affect actual trading results.

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Seasonal Disclaimer

This message and its content is intended only for the person or entity to which it is addressed and should not be shared with additional parties. Seasonal tendencies are a composite of some of the most consistent commodity futures seasonals that have occurred in the past several years. There are usually underlying, fundamental circumstances that occur annually that tend to cause the futures markets to react in similar directional manner during a certain calendar year even if a seasonal tendency occurs in the futures, it may not result in a profitable transaction as fees and the timing of the entry and liquidation may impact on the results. No representation is being made that any account has in the past, or will in the futures, achieve profits using these recommendations. No representation is being made that price patterns will recur in the future.

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