Friday’s Recap March Corn futures settled at 442’0 Friday, down by 1’4, in lower trade across the board. Across all maturities, 333,511 contracts changed hands, with 170,867 traded in the March maturity. Combined open interest fell 7,964 (0.49%) to 1,610,909. March shed 7,566, or 0.94%, finishing at 794,034.
Technicals March corn futures retreated in the back half of last week’s trade, retracing the breakout point from the WASDE report. The ability to defend that pocket has helped lead to some strength in the overnight and early morning trade with prices recouping most of the losses from Friday’s trade. A break and close below our pivot pocket would turn the technical advantage towards the Bear camp. Until then, the Bulls still have the upper hand.
Fundamental Notes Exports have been strong for corn over the last few months, but last week’s report raised caution. Net sales of 946,900 MT for 2024/2025 were down 45 percent from the previous week and 32 percent from the prior 4-week average. Mexico has been the largest buyer recently but they were in the number two spot last week, behind Colombia.
Popular Options The Jan 440 put saw the most traded with 3,689 contracts changing hands. High volumes in March option trading were seen in the 460 calls (2,801) and the 400 puts (688). Options with the most open interest are the July 450 call with 42,906, and the March 420 put with 22,956.
Volatility Update Implied Volatility ended the session moderately down with CVL losing 0.47, to finish the day at a one week low of 15.18. The 30-day historical volatility ended down 0.0377% to 17.31%. The CVL Skew was slightly higher with the 30-day gaining 0.028, closing the session at 1.40.
Seasonal Tendencies Update (Updated on 12.16.24)
Below is a look at historical price averages for March corn futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results). Historically, December has been a favorable month for prices. Whether or not that stays on trend this year or not is still to be seen.
Provided by Season Algo
Commitment of Traders Update (Updated on 12.16.24)
Managed Money added +77,670 longs in Corn in the week ending Dec. 10 expanding their net long position to 165,890.
PRovided by Blue Line Futures
Ready to dig in?
Subscribe to our daily Grain Express for fresh insights into Soybeans, Wheat, and Corn. Get our expert technical analysis, proprietary trading levels, and actionable market bias delivered right to your inbox.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500
Performance Disclaimer
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
