Morning Focus Ag Futures

🌅 Morning Ag Futures Technicals – June 18, 2025

U.S. grain futures are showing a mixed tone to start. With July contracts in corn, soybeans, and wheat all sitting near key technical pivots, today’s session could provide critical momentum signals ahead of the next report cycle. Here’s a breakdown of what each market is showing on early this morning.

🌽 July Corn (ZCN25)

July corn continues to drift sideways with a very narrow intraday range. After testing the 431’6 floor yesterday, the market has stabilized but failed to gain traction above the 434’0 area. There’s little buying enthusiasm, and the overall tone remains heavy as momentum indicators flatten out near oversold territory. A move below 431’6 would likely trigger fresh lows, while any bounce must first overcome 434’4 resistance to signal a reversal.

• Last Price: 432’0
• Change: –0’2 (–0.06%)
• High/Low: 432’2 / 432’0
• Support: 431’6
• Resistance: 434’4
• Bias: 🔻 Bearish

🫘 July Soybeans (ZSN25)

Soybeans are quietly trading just below 1074’0 resistance, a level that capped Friday’s intraday rally. Price action has been stable, but uninspiring — suggesting the market is waiting for new direction. Momentum remains flat, and today’s volume has been light. If bulls can push above 1074’0, a larger breakout could follow. Until then, the chart favors a neutral bias with key support near 1070’0.

• Last Price: 1071’6
• Change: +0’2 (+0.02%)
• High/Low: 1071’6 / 1071’2
• Support: 1070’0
• Resistance: 1074’0
• Bias: 🔄 Neutral

🌾 July Chicago Wheat (ZWN25)

Chicago wheat has extended its rally to test the 552’6 level, holding above the breakout area near 549’0. The market found solid footing last week at 535’0 and has now rallied over 17 cents. While bulls remain in control, momentum is showing early signs of fading, with smaller candle bodies and lower volume. A pullback to 549’0 would not be unexpected before testing the next resistance near 554’2.

• Last Price: 552’2
• Change: +0’2 (+0.05%)
• High/Low: 552’6 / 551’0
• Support: 549’0
• Resistance: 554’2
• Bias: 📈 Bullish (with caution)

🌾 July Minneapolis Wheat (MWN25)

Spring wheat is pausing near highs after reclaiming 630’0 and holding above it for the past three sessions. The current candle shows a very tight range, indicating low-volume consolidation beneath resistance at 636’0. A break above that level would open the door toward 642’0, while a failure to hold 630’0 could trigger some profit-taking after a strong 2-day bounce.

• Last Price: 635’2
• Change: 0’0 (0.00%)
• High/Low: 635’6 / 634’6
• Support: 630’0
• Resistance: 636’0
• Bias: 📈 Bullish

🌾 July Kansas City Wheat (KWN25)

KC wheat is holding firm just below 636’0 after a strong rally from the 620’0 base. Monday’s breakout was clean, and today’s inside bar suggests digestion of gains rather than exhaustion. Traders will be watching for continuation above yesterday’s high, which could open the door toward 640’0. Key support remains the prior breakout pivot at 629’0.

• Last Price: 635’0
• Change: +0’4 (+0.08%)
• High/Low: 635’0 / 635’0
• Support: 629’0
• Resistance: 636’0
• Bias: 📈 Bullish

All prices as of June 18, 2025 @ 6:00 AM CT