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Corn Jul '24 (ZCN24)

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Corn Futures Market News and Commentary

Corn Rallies on Friday

Corn futures closed out the Friday session on a high note, as futures rallied o close out the week. Contracts were up anywhere from a penny to 5 ½ cents. March finished the week with a 4 ¼ cent gain. The national average Cash Corn price from cmdtyView was up 5 3/4 cents at $4.17.

USDA reported a private export sale of 150,000 MT of corn to Columbia this morning for 2024/25 shipment. 

Commitment of Traders data showed the managed money spec funds in corn futures and options trimming 6,475 contracts from their net long position in the week that ended on December 17. They took that net long to 159,415 contracts by Tuesday. Commercials increased their net short by 10,590 contracts to 396,690 contracts. 

Export Sales data from Thursday morning showed accumulated corn shipments are now 13.621 MMT. That is up 31% from last year and 22% of USDA’s full year export projection, ahead of the 19% average pace. Including unshipped sales, commitments are 36.313 MMT, 29% above las... Read more

Contract Specifications

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Contract
Corn
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
CBOT
Point Value
$50
Margin/Maintenance
$1,155/1,050
First Notice Date
06/28/24
Expiration Date
07/12/24 (expired)

Seasonal Chart

Corn Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Dec 17, 2024

View Chart Details
Commercials - Long / Short
745,237 (+37,790)
915,915 (+24,986)
Non-Commercials - Long / Short
454,635 (-11,171)
232,787 (-8,596)
Producers - Long / Short
410,751 (+11,225)
868,905 (+13,930)
Swap Dealers - Long / Short
296,285 (+17,534)
8,809 (+2,025)
Managed Money - Long / Short
310,458 (-17,475)
152,753 (-9,608)
Other Reportables - Long / Short
144,177 (+6,304)
80,034 (+1,012)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
390-4 +2.43%
on 06/28/24
460-4 -13.14%
on 06/13/24
-54-2 (-11.94%)
since 06/12/24
3-Month
390-4 +2.43%
on 06/28/24
475-4 -15.88%
on 05/14/24
-47-2 (-10.56%)
since 04/12/24
52-Week
390-4 +2.43%
on 06/28/24
587-2 -31.89%
on 07/24/23
-106-2 (-20.99%)
since 07/12/23

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Soybeans Push Higher as Meal Rallies on Argentine Dryness Concerns

The soybean market took back most of the midweek losses on Thursday and Friday, with the latter session closing up 7 to 13 cents. January was still down 13 ¾ cents on the week. CmdtyView’s national...

ZLH25 : 39.88s (-1.34%)
ZMH25 : 302.2s (+3.85%)
ZSPAUS.CM : 9.2316 (+1.15%)
ZSF25 : 974-4s (+1.19%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 979-2s (+1.32%)
Corn Rallies on Friday

Corn futures closed out the Friday session on a high note, as futures rallied o close out the week. Contracts were up anywhere from a penny to 5 ½ cents. March finished the week with a 4 ¼ cent gain....

ZCPAUS.CM : 4.1693 (+1.34%)
ZCZ24 : 430-0s (-0.41%)
ZCH25 : 446-2s (+1.25%)
ZCK25 : 451-6s (+1.23%)
Wheat Manages to Close Mixed on Friday

The wheat market went into the weekend on a mixed note, as the soft red contracts failed to push higher. Chicago SRW futures were steady to down 1 ½ cents across the board on the day, as March was down...

KEK25 : 552-4s (+0.27%)
MWH25 : 590-2s (+0.60%)
KEH25 : 544-6s (+0.28%)
ZWH25 : 533-0s (unch)
ZWK25 : 542-6s (-0.14%)
Shootin' the Bull about lines in the sand

In my opinion, the line in the sand is definitive.  Bulls are more bullish and bears are more bearish.

Wheat Getting Pulled Higher at Midday

Wheat futures are trading with slight gains at Friday’s midday. Chicago SRW futures are up 11 to 2 cents in most contracts so far on the day. KC HRW contracts are 2 to 3 cents back higher at midday....

KEK25 : 552-4s (+0.27%)
MWH25 : 590-2s (+0.60%)
KEH25 : 544-6s (+0.28%)
ZWH25 : 533-0s (unch)
ZWK25 : 542-6s (-0.14%)
Soybeans Rallying Back Ahead of the Weekend

The soybean market is gaining back some upward momentum after a technical break lower earlier in the week. Contracts are up 11 to 13 cents at midday. CmdtyView’s national front month Cash Bean price...

ZLH25 : 39.88s (-1.34%)
ZMH25 : 302.2s (+3.85%)
ZSPAUS.CM : 9.2316 (+1.15%)
ZSF25 : 974-4s (+1.19%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 979-2s (+1.32%)
Corn Closing Back in on Fall Highs

Corn futures are getting a rally into the Pre-Christmas weekend, wth contracts up 5 to 6 cents in the front months. March is just over a nickel off the October high of $4.52 ¼. The national average Cash...

ZCPAUS.CM : 4.1693 (+1.34%)
ZCZ24 : 430-0s (-0.41%)
ZCH25 : 446-2s (+1.25%)
ZCK25 : 451-6s (+1.23%)
Wheat Mixed on Friday Morning

Wheat futures are showing mixed trade on Friday morning, with contracts on either side of unch. The wheat complex failed to join in on the rest of the grain bounce on Thursday, heading to some fresh lows....

KEK25 : 552-4s (+0.27%)
MWH25 : 590-2s (+0.60%)
KEH25 : 544-6s (+0.28%)
ZWH25 : 533-0s (unch)
ZWK25 : 542-6s (-0.14%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 406-3
2nd Resistance Point 403-1
1st Resistance Point 401-5
Last Price 400-0s
1st Support Level 396-7
2nd Support Level 393-5
3rd Support Level 392-1

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52-Week High 587-2
Fibonacci 61.8% 512-1
Fibonacci 50% 488-7
Fibonacci 38.2% 465-5
Last Price 400-0s
52-Week Low 390-4

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