Corn Prices Slip Below Key Moving Average

December 2026 corn futures dropped below their 200-day moving average to close at $464.0, according to Stephen Davis, senior market strategist at Walsh Trading.

The decline comes as several agricultural reports have been released by the government this month, with another due on August 12 from the United States Department of Agriculture's (USDA) World Agricultural Outlook Board (WAOB).

A recent USDA report showed a 2% decrease in corn rated 'good or excellent' to 61%, while those rated 'poor or very poor' increased by 2% week-over-week to 14%.

Davis suggests buying December 2026 corn at the current low, with a stop-loss risk of $454.0 and a profit objective of $484.0, resulting in potential profits of $1,000 per contract.