Corn

Technicals (December)
Corn futures got whacked to start the week, leading to continued pressure in the overnight and early morning trade. Support from 416 1/2-419 1/4 is being tested, a failure here and a decline towards they psychologically significant $4 handle is not out of the question.

Technical Levels of Importance
Resistance: 447-450 1/2***
Pivot: 433 3/4-435 3/4
Support: 416 1/2-419 1/4***, 410-412**, 399-401***

Crop Progress
Good-to-Excellent ratings unsurprisingly jumped to 74% this week following rains across large portions of the corn belt. Beneficial rains certainly played a roll in the soft opening to this week’s trade, though a lack of notable trade deal announcements also contributed. Current conditions are now 6% better than last year’s 68% Good-to-Excellent ratings for the same week, and are the strongest of any point in the previous 5 years.

Seasonal Tendencies Update
(Updated on 7.7.25)

Below is a look at historical price averages for December corn futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).

Commitment of Traders Update
The most recent Commitment of Traders report showed Funds were net short 206,463 futures and options contracts, the largest net short since last August. Last year (July 9th, 2024) Funds were net short 353,983 contracts. So although they have been sellers for a while, they are still a ways away from the extremes we saw a year ago.

Check out the Charts to this article Here: 

https://bluelinefutures.com/2025/07/08/selling-pressure-continues-in-grain-markets/

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