Morning Ag Futures Technical Analysis

Morning Ag Futures Technical Analysis — Aug 18, 2025

Contract	Last	Change	Marked Pivot	Near Support	Near Resistance	Short-Term Bias
Corn (ZCU25)	≈ 381.0	+0.2 (~+0.07%)	383’6 (orange line)	380’6–380’0, then upper-370s	383’6 then mid-383s/384s	Constructive while > ~380; watch a close above 383’6
Wheat (ZWU25)	≈ 503.4	−1.0 (~−0.20%)	506’4	~502–503 band	~507–508 band	Range-bound 502–508; await break/close
Soybeans (ZSX25)	≈ 1037.4	+0.2 (~+0.02%)	1044.0	~1034–1036 shelf	~1040 then 1044.0	Cautiously constructive above ~1035; trigger on 1044 break

Corn (ZCU25)

Read: The contract has carved out a two-day stair-step higher from the mid-370s into the low-380s, followed by a pause. The most visible magnet on the chart is the marked line at 383’6. Price probed that area on Aug 17 and was rejected, leaving a short-term ceiling. Intraday supports are layered just beneath, with a shelf in the 380’6–380’0 zone and a more meaningful swing base built across the upper-370s (Aug 15–16).

Implications: Holding above the 380 shelf preserves constructive momentum and keeps a retest of 383’6 on the table. A clean push and hourly close through 383’6 would confirm continuation toward the next horizontal lines above (mid-383s to 384s on your grid). Conversely, a decisive break under 380 would signal loss of immediate control and invite a deeper check-back into 378–376 where buyers last stepped in. Until resolved, expect fade-the-edges behavior between 380 and 383’6.

Wheat (ZWU25)

Read: Wheat remains range-bound. For several sessions, trade has rotated inside a narrow band, roughly ~502 to ~508, with a marked pivot at 506’4. Repeated upper-shadow prints around 507–508 show supply capping rallies, while wicks into 502–503 continue to attract responsive buying.

Implications: The path of least resistance is congestion until we get a range break. Above 506’4, bulls still must absorb offers near 507–508; a firm close north of that area would open a measured push toward the next grid lines overhead. Failure at 506’4 and a slip back under 503 would hand control to sellers and expose the recent lows toward 502 and below. Until a break, lean toward mean-reversion tactics with tight risk outside the band.

Soybeans (ZSX25)

Read: Beans rebounded briskly off early-period weakness and then stalled beneath the marked line at 1044.0. Price is compressing into a ~1034–1040 consolidation ledge, with shallow dips being bought and upticks sold ahead of the 1044 cap. The series of higher swing lows since Aug 15 supports a cautiously constructive stance while that ledge holds.

Implications: A decisive push/close through 1044.0 would unlock upside extension and signal that buyers have regained initiative beyond simple rebound. Failure back through the 1034–1036 shelf would warn the recovery is tiring and could unwind a portion of the Aug 15–17 advance. Until then, expect compression and a volatility expansion once the 1034/1044 boundaries give way.

Context: Today’s read is purely technical and level-based. For readers wanting a deeper background on positioning dynamics, see our Commitment of Traders (Paradigm Futures) and the official CFTC COT portal for source reports.