Morning Ag Futures Technical Analysis – July 7, 2025
Following last week’s USDA Acreage and Stocks report, grain markets initially rallied but have since shown signs of exhaustion. This morning’s price action is stabilizing across contracts, but several key support levels are now under pressure. Here’s a breakdown of the current setups across major ag futures contracts.
🌽 December Corn (ZCZ25)
Last: 424-0 | Change: 0-0 (0.00%)
Following a strong post-report rally into July 2, corn futures reached 437-0 resistance before stalling during low-volume holiday trade. The subsequent break lower on July 6 was driven by heavier volume, confirming a shift in tone. The 424 level now serves as a short-term pivot. A close below 420 could open downside risk toward 415. Bulls need to reclaim 430 quickly to avoid losing trend structure.
🌱 November Soybeans (ZSX25)
Last: 1029-0 | Change: +1-2 (+0.12%)
Beans staged an impressive breakout on July 2, surging nearly 45 cents before topping at 1060. However, weak follow-through and heavier selling on July 6 erased much of the move. Support is currently being tested near 1025, and a failure to hold here could trigger further downside toward 1012–1010. Bulls need to push back through 1035 to regain momentum.
🌾 September Chicago Wheat (ZWU25)
Last: 545-2 | Change: +0-4 (+0.09%)
ZWU25 rallied into 570 on July 3, but the quick reversal and breakdown through 556 support has turned the outlook bearish. Price is currently stabilizing near 545, but there’s little conviction. A push below 540-0 would signal trend continuation lower. Resistance now stands at 556-0.
🌾 September Spring Wheat (MWU25)
Last: 639-2 | Change: -0-7.5 (-0.12%)
Spring wheat mirrored winter wheat action, peaking just under 655 before rolling over hard. The drop to 635 was backed by solid volume, and the rebound has so far lacked strength. If 635 breaks, next support lies near 625. A move back above 645 is needed to neutralize the breakdown.
Charts reflect price action through 6:00 AM CT, July 7, 2025. Analysis by Paradigm Futures.
