Corn
Technical (December)
Corn prices for December remained similar to yesterday’s trades, with this morning’s figures closing just above the 200-day moving average. The pivot range of 435 1/4 to 437 1/4 is still valid in today’s dealings. As discussed in yesterday’s article, the upcoming expiry of December options on Friday might limit price movements since open interest is concentrated around 440. The maximum pain point — where combined put and call open interest peaks — is at 430, which could draw prices towards it. Over the past three weeks, corn prices have been mostly steady, and it seems like this trend might continue. It may seem a bit dull, but there are still opportunities to engage with the market on both sides in the short term.
Technical Importance Levels
Resistance: 442 3/4**, 447-450****
Pivot: 435 1/4-437 1/4
Support: 428 1/2-430 1/4****, 424 3/4-426 3/4****, 409-410 1/2**
Latest Seasonal Trends
(Updated on 25.11.17)
Below are the historical average prices for March corn futures over 5, 10, 15, 20, and 30-year periods (please note that past performance isn’t necessarily a guide for future results).
Check out the graph for this article here.
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Performance Disclaimer
Hypothetical performance results come with several limitations, which are discussed here. No claims are being made that any account will achieve profits or losses similar to those shown. There are often significant differences between hypothetical results and actual ones achieved by a specific trading program.
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