Corn Market Surges on Strong Fundamentals, Spreads Break Through Moving Averages

The corn market has been on a strong run lately, with the March '27 contract (ZCH27) making a new 52-week high of $520.75.

Corn is not alone in its surge, as the grain market as a whole has been performing well.

Some factors contributing to corn's rally include expected lower yields in Illinois and potential severe thunderstorms in states like Nebraska, Iowa, Minnesota, and Wisconsin.

The Dec-Mar Corn Spread (ZCZ26-ZCH27) had trended down from its high of -8.5 on March 16 until July 17, then traded sideways between -16 and -15 until yesterday.

Today, the spread broke through its moving averages by opening and settling above both the 14-day and 21-day moving averages.