🌽✨ Corn Futures (ZCH2026) — Market Snapshot
📈 Trend: Range-Bound
🌍 Wheat & Crude futures created spillover pressure.
⚠️ South Korean importer purchased a total of 268,000 metric tons.
📊 Technical Indicator: 🔁 Fibonacci Retracement
🧭 Major resistance remains at 451 USD/bu, a crucial level to watch for a breakout.
💰 Support: 🟢 430-432 USD/bu
🎯 Caution advised: Ongoing farmer selling at lower levels could cap any short-term recovery.
💵 Resistance Zone: 🔴 450 – 455 USD/bu
📉 Traders eyeing this zone for profit-taking or range-top resistance.
📊 Open Interest: 📄 725.69K contracts
🪙 Suggests strong market participation — indicating sustained hedging and speculative interest.
🛢️ Future Type: 🌽 Corn (ZCH2026)
📍 Traded on the Chicago Board of Trade (CBOT) — the benchmark contract for global corn pricing.
It’s a caution that the information provided is for knowledge purposes only and should not be taken as a recommendation to buy or sell assets.
