Corn: The corn market chopped around its lows the first 3 days of the week, testing them multiple times before finally exploding to the upside on Thursday. Growing concerns over a large portion of Iowa’s corn crop having damage done to it, mixed with an exceptionally large “net short” position held by funds, was the main catalyst for the move higher. I expect the gap around $3.43 to finally go and get filled, before stalling out or potentially starting to move back lower. Today we are seeing corn basically unchanged, which to me is just a “breather” before going to fill the gap.  Keep an eye on RSI levels reaching overbought while filling the gap, and this can be an opportunity to try playing the downside.

Soybeans: Soybeans broke a major downward trend line yesterday while also touching the 200-day MA. They closed above the trend-line which is a bullish technical development, but today are testing these same levels on a pull back. Strong demand talks from China and concerns over crop damage have been the main stories supporting the grains, while there are also now talks of La Nina weather event in Fall, right when South America will be planting soybeans.  Pullbacks that test these trend lines can be looked at as buying opportunities.

Corn Dec ’20 Daily Chart
Soybeans Nov ’20 Daily Chart

If you’d like to learn about the opportunities that exist in the grain markets right now, please request our exclusive Agricultural Investor Kit. If you have any further questions or needs, please contact Tony Cholly at 1-800-826-2270 or email him at

Our Grain Investor Kit Includes:

– In-Depth Fundamental Analysis and News on What is Currently Moving the Grain Markets
– Technical Analysis Overview with Possible Outcomes
– Analysis on Current Trends and Opportunities in the Market and How to Take Advantage of Them
 – Historical Charts and Data Outlining Historic Prices and Trends

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Tony Cholly

Senior Market Strategist
Tony majored in Economics at Eastern Illinois University. He performed his thesis on the market price of corn in the market and the factors that affect it. Tony was drawn to futures trading because of the opportunity to have financial gains in an economic environment. He prides himself on working with customers one-on-one and developing a trading strategy based on the client's needs and wants.
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