The Grain Rally Stalls at Midweek

Corn

Technicals (December)
December corn traded on both sides of unchanged yesterday, only to finish right on the 200-day moving average, which is where prices sit this morning. Our pivot pocket from 435 1/4-437 1/4 remains intact for today’s trade. As mentioned yin yesterday’s writeup, Friday’s December options expiration could keep prices in check with a wall of open interest acting as a ceiling near 440 and a max pain point (most amount of open interest in puts and calls) at 430, which can sometimes have a gravitational pull to it. Zooming out, corn over the last three weeks has been largely sideways, which we feel will continue to be the trend. It may sound boring, but it’ll likely come with decent shorter term opportunities to trade both sides of the market.

Technical Levels of Importance
Resistance: 442 3/4**, 447-450****
Pivot: 435 1/4-437 1/4
Support: 428 1/2-430 1/4****, 424 3/4-426 3/4****, 409-410 1/2**
Seasonal Tendencies Update
(Updated on 11.17.25)

Below is a look at historical price averages for March corn futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).