Corn Futures Fall Below 200-Day Moving Average
December 2026 corn futures fell below their 200-day moving average to close at $464.0, according to Walsh Trading's senior market strategist Stephen Davis.
Agricultural reports released by the US Department of Agriculture (USDA) have shown mixed signals for the corn crop. The August 3 Crop Progress report indicated a 2% decline in corn rated 'good or excellent' to 61%, while corn rated 'poor or very poor' increased by 2% week-over-week to 14%.
A recent cold front has brought showers and thunderstorms to the upper Midwest, promoting corn and soybean development. However, heat had been a factor in declining crop conditions in the western Corn Belt, with temperatures reaching 95°F or higher in many areas west of the Mississippi River.
Davis recommends buying December 2026 corn at today's low price of $464.0, risking the trade to $454.0 stop and aiming for a profit objective of $484.0.