Corn
Monday’s Recap
Corn futures were mostly lower Monday with the May contract finishing the session at 457’2, gaining 4’0. Overall volume was a heavy 724,556, with the May maturity seeing 282,804 traded. Across all maturities, open interest finished the session at a one month high of 1,879,576, higher by 35,581 (1.93%). May open interest lost 5,077, or 0.82%, to 617,837.
Technicals
Corn futures were able to leave some friendly tails on the day candles in the last two sessions, which puts prices in a good spot to see more recovery as we start a new month of trade. 462 1/2-465 1/2 is the barrier that the Bulls want to get out above to spark more relief into the mid 470’s. A failure to do so could just leave us rangebound with support from 440-442 1/2 remaining stout.
Technical Levels of Importance
Resistance: 462 1/2-465 1/2**, 472 3/4-473 1/2***
Pivot: 454 1/2-457 3/4
Support: 440-442 1/2***, 432 3/4-434 1/4***
Popular Options
Option volumes were highest for the July 460 call (29,515) and the July 460 put (28,999). For May options, the 480 calls had the highest volume with 17,678 traded, and the most actively traded put was the 450 strike with 11,616 contracts done. Calls with the highest open interest are the July 460 strike (61,906), and for the puts are the July 460 strike (61,015).
Volatility Update
Corn implied volatility finished sharply lower as CVL dropped 3.7 to close at 24.38, a one week low. The 30-day historical volatility finished the session losing 0.26% to a one month low of 20.36%. The CVL Skew was sharply higher with the 30-day gaining 0.64, finishing at a one month high of 2.58.
Seasonal Tendencies Update
(Updated on 3.31.25)
Below is a look at historical price averages for July corn futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results)
Read More here: https://bluelinefutures.com/2025/04/01/a-new-month-a-new-market-3/
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