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Corn Jul '23 (ZCN23)
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Corn Futures Market News and Commentary

Corn Fades to Red after USDA Data

Corn finished the last trade day of the week with fractional to 2 ½ cent losses across the front months. That left the March contract at just a ¾ cent gain for the week’s trade. USDA did not adjust the cash average price, still at $4.85. 

USDA’s weekly Ethanol report showed the cash average price was UNCH to 13 cents/gal weaker from $1.54 to $1.80/gal regionally. The regional DDGS markets saw trade from $170-$190 in MI to $240 in KS, mostly $5 to $20 weaker for the week. The cash corn oil market was mostly 1 to 4 cents/lb cheaper, from 53 to 56 cents/lb regionally. 

Weekly CFTC data showed corn spec traders were closing shorts and adding longs during the week that ended 12/5. That left the group with a 160,533 contract net short. The commercial hedgers were closing longs through the week, flipping them back to net short by 39,754 contracts. 

USDA announced a 165k MT corn sale to unknown destinations this morning. The main news, however, was USDA’s monthly WASDE rep... 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
$1,732/1,575
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

Corn Jul '23
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Dec 5, 2023

View Chart Details
Commercials - Long / Short
586,174 (-29,871)
448,420 (+7,535)
Non-Commercials - Long / Short
272,899 (+21,705)
383,338 (-25,004)
Producers - Long / Short
375,937 (-37,538)
429,673 (+5,234)
Swap Dealers - Long / Short
197,899 (+6,554)
6,409 (+1,188)
Managed Money - Long / Short
181,404 (+25,472)
338,232 (-29,723)
Other Reportables - Long / Short
91,495 (-3,767)
45,106 (+4,719)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
545-4 +9.95%
on 07/05/23
672-4 -10.82%
on 06/21/23
-8-0 (-1.32%)
since 06/14/23
3-Month
545-4 +9.95%
on 07/05/23
672-4 -10.82%
on 06/21/23
-36-0 (-5.66%)
since 04/14/23
52-Week
545-4 +9.95%
on 07/05/23
705-4 -14.99%
on 10/10/22
-9-6 (-1.60%)
since 07/14/22

More Corn Quotes

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Most Recent Stories

More News
Corn Fades to Red after USDA Data

Corn finished the last trade day of the week with fractional to 2 ½ cent losses across the front months. That left the March contract at just a ¾ cent gain for the week’s trade. USDA did not adjust...

ZCZ23 : 465-6s (-0.53%)
ZCPAUS.CM : 4.5496 (-0.52%)
ZCH24 : 485-4s (-0.51%)
ZCK24 : 497-4s (-0.40%)
Beans Spike Below $13, Stay Above for the Close

The Friday soybean trade settled with prices 4 to 7 ¾ cents in the red. The Jan contract spiked below the $13 round number after the report, but futures closed back above the mark. Jan beans printed a...

ZMF24 : 404.7s (-0.52%)
ZLF24 : 50.20s (-1.82%)
ZSF24 : 1304-0s (-0.59%)
ZSPAUS.CM : 12.4837 (-0.59%)
ZSH24 : 1323-0s (-0.55%)
ZSK24 : 1337-2s (-0.52%)
Wheats Faded into the Weekend

After a week of buying into the data release and seeing a mostly bull-friendly update, wheat futures pulled back into the weekend. Chicago futures went home 9 to 11 cents in the red, but still 29 cents...

ZWZ23 : 615-0s (-1.76%)
ZWH24 : 631-6s (-1.63%)
KEZ23 : 655-6s (-0.98%)
MWZ23 : 712-6s (unch)
Livestock Markets Rally to End Week on a Positive note

Short- covering rally to end week

Grain Spreads: Beans Holding in the Teens

Weak Bean Close Examined

Shootin' the Bull about good demand

In my opinion, cattle feeders got busy this week procuring inventory at the best basis spread of the year.  Not only that, I have heard of light weight cattle being gobbled up for wheat pastures and the...

Wheat Selling the Fact on Report Day

After a mostly bull friendly report, the wheat market is trading in the red through Friday’s midday. Chicago futures are down by double digits for midday, with 5 ½ cent losses in the KC wheat market....

ZWZ23 : 615-0s (-1.76%)
ZWH24 : 631-6s (-1.63%)
KEZ23 : 655-6s (-0.98%)
MWZ23 : 712-6s (unch)
Beans Fade Initial Report Rally

Soybeans rallied out of the report initially, but gave it all back and then some for midday quotes 4 ¼ to 5 ¾ cents in the red. Soymeal is trading $1.60 to $1.70 weaker so far after the data. Midday...

ZMF24 : 404.7s (-0.52%)
ZLF24 : 50.20s (-1.82%)
ZSF24 : 1304-0s (-0.59%)
ZSPAUS.CM : 12.4837 (-0.59%)
ZSH24 : 1323-0s (-0.55%)
ZSK24 : 1337-2s (-0.52%)
Corn Off Highs after Report’s Release

Midday corn futures are trading a penny to 1 ½ cents in the red, following the report. March is sitting near the low for the day, and is 5 ¼ cents under the earlier high. USDA did not adjust the cash...

ZCZ23 : 465-6s (-0.53%)
ZCPAUS.CM : 4.5496 (-0.52%)
ZCH24 : 485-4s (-0.51%)
ZCK24 : 497-4s (-0.40%)
Will Wheat Prices Continue to Rally?

Nearby CBOT soft red winter wheat futures rose to a record high of $14.2525 in March 2022. At the most recent November 2023 low, the price was almost one-third the level at the 2022 all-time high. Wheat...

ZWH24 : 631-6s (-1.63%)
WEAT : 5.98 (-1.48%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 624-6
2nd Resistance Point 619-6
1st Resistance Point 609-6
Last Price 599-6s
1st Support Level 594-6
2nd Support Level 589-6
3rd Support Level 579-6

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52-Week High 705-4
Fibonacci 61.8% 644-3
Fibonacci 50% 625-4
Fibonacci 38.2% 606-5
Last Price 599-6s
52-Week Low 545-4

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