Corn Spread Sees Sharp Rise Before Pulling Back
The JUL-SEP Corn Spread (ZCN27-ZCU27) has seen significant movement since mid-August, according to Walsh Trading. Rich Moran, a senior commodities broker at Walsh Trading, suggests that getting short this spread could be a good risk/reward trade.
As of the most recent figures, the full carry for corn from July 2027 to September 2027 is 22.04, putting the JUL-SEP Corn Spread (ZCN27-ZCU27) at -22. However, since mid-August, the spread has gone from +10 to a 52-week high of +33½ on September 2, 2026.
The spread settled above its 14-day moving average throughout this period, but last Friday (September 25), it finally settled below this average at +27¾. This price was matched today, and Moran thinks that selling the spread might offer a good opportunity for traders.