🌅 Morning Ag Futures Technical Outlook – July 8, 2025
🌽 December Corn (ZCZ25)
December corn futures held flat overnight, trading at 418-2 after bouncing off recent lows. Resistance remains near 420-6, which has capped multiple intraday recovery attempts. Trend remains weak following a multiday slide off the July 3 high. Volume continues to trail off, reflecting reduced conviction. Watch for a break below 415 to open downside toward the 410s.
🫘 November Soybeans (ZSX25)
November soybeans continue to consolidate just above support at 1019-4 after an extended pullback from the July 3rd high near 1066. The market attempted a shallow bounce but struggled to hold above 1026. Momentum remains weak, but oversold signals are emerging. A break below 1015 could accelerate losses toward the psychological 1000 level.
🌾 September Spring Wheat (MWU25)
Spring wheat is stuck in a tight consolidation near 6.34–6.38 after falling from a sharp July 3rd high at 6.60. Support at 6.32 has held for now. The market remains directionless in low volume and may need a fresh catalyst. Watch for a breakout above 6.40 to trigger momentum buying back toward the July peak.
🌾 September Chicago Wheat (ZWU25)
Chicago wheat futures are locked between 546-0 and 548-4, with no clear directional bias as the market digests post-holiday trade. A firm close above 550 could trigger short covering, while a drop below 542 would expose the market to further downside. Volume remains light as traders await fresh fundamental input.
Charts powered by Paradigm Futures. Data as of July 8, 2025, 6:00 AM CT.
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