Grain Futures Prices are on the Rise! | Grain Express | 5/26/2023 |

Posted: May 26, 2023, 9:04 a.m.

As we head into Memorial Day weekend, remember that it isn't just about a long weekend of grilling, it's a holiday to honor those who gave the ultimate sacrifice along with their families so we can enjoy the freedoms we have today.  

 

Grain markets will be closed on Monday and will resume trading again on Monday evening, 7pm CT.  

 

Corn

Seasonal Trend in Play

  • September corn futures have trended lower for 12 of the last 15 years from 4/30-6/24. 

Technicals (July)

  • July corn futures have chewed through another resistance pocket and have marched onwards to the next one, 595-601.  If last week at this time you were wishing you would have laid off some risk here, this is your opportunity.  We are moving our bias from Bullish/Neutral to outright Neutral as we head into the long weekend.  A failure at these levels come next week would flip our bias into bearish territory. 

 

Bias: Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 595-601****, 606**, 615 3/4**, 627 1/4***

Pivot: 586-588 

Support: 561 3/4**, 541 1/2-550****, 516 1/2**

 

ZCN2023_2023-05-26_06-50-49

Soybeans 

Seasonal Trend in Play

  • The next Seasonal Trend for soybeans is for the July contract and starts on May 28th.

 

ZSN2023_2023-05-26_07-59-20

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Wheat

Seasonal Trend in Play

  • None
ZWN2023_2023-05-26_08-04-47

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