Grain Markets Retreat to Start the Week
Corn
Market Recap
Friday’s Corn market was mostly lower with the Dec contract adding 0’2 to 424’0. Overall the session saw a light 275,360 contracts done, with Dec volume coming in at 162,409. Across all maturities, open interest gained 9,133, or 0.59%, to 1,547,110. Dec decreased 896 (0.11%), finishing at 834,182.
Technicals (December)
December corn futures took another shot at resistance on Friday but fizzled out and reversed. Prices are little changed to start the week as prices linger just above trendline support and the 20-day moving average. 419 1/4-422 is a near term “must hold” pocket. A failure here could neutralize some of the friendly chart developments over the last few weeks and put prices back into a consolidation phase.
Technical Levels of Importance
Resistance: 430-432 3/4****, 439 3/4**
Pivot: 426 1/4
Support: 419 1/4-422****, 414-415***, 396 3/4-399***, 383-387**
Popular Options
The Oct 420 put saw the most changing hands with 3,151 contracts done. High volumes in Dec option trading were seen in the 430 calls (3,197) and the 400 puts (2,540). Option open interest is largest for the Dec 450 calls at 39,563, and the Dec 400 puts at 60,165.
Vol Update
Implied Volatility finished slightly down with CVL off 0.12, to end at a one week low of 18.96. Historical volatility (30-day) settled at 29.55%, dropping 0.0728%. The CVL Skew was slightly up with the 30-day adding 0.07, finishing the session at a one week high of 1.45.
Seasonal Tendencies Update
(Updated on 9.22.25)
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 80,051 futures and options.
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