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Corn Dec '23 (ZCZ23)

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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
11/30/23
Expiration Date
12/14/23 (expired)

Seasonal Chart

Corn Dec '23
Average Price Chart for 5 Prior Dec 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
447-0 +2.18%
on 11/29/23
480-4 -4.94%
on 11/15/23
-21-4 (-4.50%)
since 11/14/23
3-Month
447-0 +2.18%
on 11/29/23
509-4 -10.35%
on 10/20/23
-23-6 (-4.94%)
since 09/14/23
52-Week
447-0 +2.18%
on 11/29/23
629-6 -27.47%
on 06/21/23
-139-4 (-23.40%)
since 12/14/22

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Most Recent Stories

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As the year winds down, Jim points at some of his favorite trending markets on this round.

SOYB : 20.74 (+1.34%)
CCHF25 : 2.2241s (-0.60%)
ZSH25 : 979-2s (+1.32%)
CANE : 11.48 (-0.43%)
SBH25 : 19.51s (+0.57%)
Pure Hedge - Livestock and Grain

Grains Rallied as The Livestock Markets Recoup Some of the Week's Losses

Grain Spreads: Profit Taking Theme

Beans & Meal Surge, Bean Oil Anemic

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%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 462-1
2nd Resistance Point 461-1
1st Resistance Point 458-7
Last Price 456-6s
1st Support Level 455-5
2nd Support Level 454-5
3rd Support Level 452-3

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52-Week High 629-6
Fibonacci 61.8% 560-0
Fibonacci 50% 538-3
Fibonacci 38.2% 516-6
Last Price 456-6s
52-Week Low 447-0

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