Corn prices continue to climb above 200-day moving average

I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391.

Today's World Agricultural Supply and Demand Estimates (WASDE) report from the United States Department of Agriculture was positive, pushing corn prices above the 200-day moving average. See the chart below. In my opinion, any market above a 200-day moving average is bullish; prices will go higher by the end of the year and into the new year. 

The report states “This month’s 2025/26 U.S. corn outlook is for greater exports and lower ending stocks. Exports are raised 125 million bushels to 3.2 billion reflecting shipments to date. Export inspection data showed robust foreign demand during November and implies total shipments during the September-November quarter will likely exceed 800 million bushels, surpassing the prior high set during 2007. With no supply changes and use rising, corn ending stocks are down 125 million bushels to 2.0 billion.”

The weekly chart below shows prices at 440.0 or above for five out of the last seven weeks. 2026 U.S. corn acreage is anticipated to be lower than 2025. However, higher prices could result in more acreage devoted to corn. 

An option trade strategy is to sell three March 2026 corn puts at 4.4 ($675). With that premium in your account, buy one March 2026 corn at 450.0 call at 12.0 ($600). The puts you sell will pay for the call you buy. If and when corn rallies, you can buy the puts back. 

Contact me anytime to discuss trading strategies and have an excellent day.

Stephen Davis
Senior Market Strategist 
Walsh Trading

Direct 312 878 2391 
Toll Free 800 556 9411
sdavis@walshtrading.com  
www.walshtrading.com

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