SEP-DEC CORN SPREAD (ZCU26-ZCZ26) - WALSH PURE SPREADER

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RICH MORAN                                                                                                                           6/4/2026

SEP-DEC CORN SPREAD (ZCU26-ZCZ26)

The SEP-DEC CORN SPREAD (ZCU26-ZCZ26) settled today at -19.  That is 62% of Full Carry.  It has been trending down since making its 52-week high of -4½ on 7/3/25.  ZCU26-ZCZ26 has settled between -18½ and -19½ the last five trading sessions.  During that time SEP Corn (ZCU26) has dropped 35 cents, but the spread seems to have been stabilizing.  Even today, while ZCU26 was down 7½ cents, the spread was up ½ cent from -19½ to -19.

I think the risk/reward of getting long ZCU26-ZCZ26 at this level is worth a shot with a short stop, especially given that we are currently at 62% of full carry.  In particular, if we get a bounce in the corn market, I think we could get a bounce in this spread.  Even if the corn market drifts a little lower, we may get an uptick in the spread.

I am suggesting that when the market opens this evening, try to buy the SEP-DEC CORN SPREAD (ZCU26-ZCZ26) at -19 or better.  If you can’t buy it there on the opening, just leave a resting bid in at that price.

Risk 3 cents or $150 Per Spread to make 6 cents or $300 Per Spread, plus fees and commissions.

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Rich Moran

Senior Commodities Broker

RMoran@walshtrading.com

Direct: (312)985-0298 

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