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Corn Jul '22 (ZCN22)
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Corn Futures Market News and Commentary

Corn Closes Higher on Friday

The Friday rally put corn back into the black for the week. The front months were 1.3% to 2% higher on the day, with May’s 11 1/4 cent gain leaving the contract 8 3/4 cents above last week’s close. December futures stayed a penny below last Friday’s settle and remain at a 9 1/2 cent loss for the month. 

The weekly Ethanol report from USDA had the week’s average prices ranging from $2.03 - $2.15/gl in NE to $2.18 - $2.24/gal in IL, which was mostly 3 to 9 cents higher for the week. DDGS were quoted from $235-245 in MI to $280-300/ton in MO for the week leaving regional prices mostly higher from -$10 to +$17/ton. Corn oil prices were mostly weaker though the week with 1-8 cent regional losses to 49 – 58 cents/gal quotes. 

The weekly CFTC reports, now current, had corn spec funds 41,896 contracts net short as of 3/21. That was a 12k contract weaker net short for the week, mainly driven by net new buying. Commercial corn hedgers put 8k new short hedges on for the week. That... 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
$2,200/2,000
First Notice Date
06/30/22
Expiration Date
07/14/22 (expired)

Seasonal Chart

Corn Jul '22
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Mar 21, 2023

View Chart Details
Commercials - Long / Short
667,983 (-5,231)
664,190 (+10,659)
Non-Commercials - Long / Short
327,137 (+10,937)
267,661 (-4,762)
Producers - Long / Short
417,278 (-5,483)
630,088 (+7,684)
Swap Dealers - Long / Short
233,320 (-1,209)
16,717 (+1,514)
Managed Money - Long / Short
181,845 (+9,589)
227,741 (-4,419)
Other Reportables - Long / Short
145,292 (+1,348)
39,920 (-343)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
694-0 +0.14%
on 07/14/22
800-0 -13.13%
on 07/11/22
-73-2 (-9.53%)
since 06/14/22
3-Month
694-0 +0.14%
on 07/14/22
824-4 -15.71%
on 04/29/22
-88-6 (-11.32%)
since 04/14/22
52-Week
512-6 +35.54%
on 09/10/21
824-4 -15.71%
on 04/29/22
+124-6 (+21.88%)
since 07/14/21

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The USDA will release their prospective plantings report this Friday, which could keep volatility on the rise! Here's a look at a tool to manage the risk of uncertainty.

Soybean Weekly Forecast

The downtrend may be expected to continue, while market is trading below resistance level 1448,6, which will be followed by reaching support level 1380.

Corn Weekly Forecast

The downtrend may be expected to continue, while market is trading below resistance level 648,2, which will be followed by reaching support level 606,6 – 593.

Wheat Weekly Forecast

The downtrend may be expected to continue, while market is trading below resistance level 720,6, which will be followed by reaching support level 647,2.

Corn 639.25 Target

Educational and Actionable Information using Fibonacci and W.D. Gann Analysis.

ZCN23 : 619-2 (-0.60%)
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Soybeans, SOYB ETF hit 61.8%, Here's what to look for now!

Educational and Actionable Information using Fibonacci and W.D. Gann Analysis

ZSN23 : 1403-0 (-0.23%)
SOYB : 26.29 (+1.25%)
Quarter-ending Prospective Plantings on Friday

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 782-1
2nd Resistance Point 764-3
1st Resistance Point 729-5
Last Price 695-0s
1st Support Level 677-1
2nd Support Level 659-3
3rd Support Level 624-5

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52-Week High 824-4
Fibonacci 61.8% 705-3
Last Price 695-0s
Fibonacci 50% 668-5
Fibonacci 38.2% 631-7
52-Week Low 512-6

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