Will Corn Stabilize Ahead of Options Expiration

Corn (July)

Technicals: July corn futures are weaker in the overnight/early morning trade. Though it looks ugly on the screen, we have not broken below our significant support pocket, 747-753. As mentioned from the start of the week, July options expiration may be the catalyst to help July corn futures stabilize into the end of the week. December corn….no that’s a different story. December futures have broken below the 100-day moving average and are trading at their lowest price since March 31st.

Bias: Neutral/Bearish
Previous Session Bias: Neutral/Bearish

Resistance: 800-803 ¾**, 809-810 ¼***
Pivot: 778 ¼-784 ½
Support: 747-753****, 720-726 ½****

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