🌾 Morning Technical Analysis – Corn, Soybeans & Wheat

Date: July 3, 2025

🌽 Corn Futures (ZCZ25)

December corn futures held firm overnight after Tuesday’s breakout, closing at 439-6, unchanged on the session. The contract pushed through resistance at 433-4 with conviction yesterday, triggering technical buying and momentum-based short covering. Volume accelerated into the close as funds unwound short positions. Price is consolidating just below the 440 handle—if that breaks, next resistance is near 446-0.

Support: 433-4
Resistance: 446-0

🔍 Market Drivers:

• Ethanol stocks fell last week, while blending demand picked up.
• Managed money was short heading into the week—position squaring added fuel.
• Pre-holiday volume helped exaggerate the rally on thin liquidity.
• Traders now await tomorrow’s Export Sales data for further confirmation.

🌱 Soybean Futures (ZSX25)

November soybeans posted modest gains to settle at 1054-4, up 2 ticks. The contract cleared the 1050 pivot and climbed steadily in low-volume trade. Momentum has slowed slightly but remains constructive with strong support building below. Any dip to 1045-0 could offer technical buying opportunities. The next upside target lies near 1062-0.

Support: 1045-0
Resistance: 1062-0

🌾 Chicago Wheat Futures (ZWU25)

September Chicago wheat held steady at 565-4, up just 2 ticks after Tuesday’s surge. The market found solid support at 544-0 earlier in the week and launched through multiple resistance levels. A bull flag is forming above 560, which may indicate another leg higher toward 575-0 if momentum continues.

Support: 554-0
Resistance: 575-0

🌾 Kansas City Wheat Futures (KWU25)

Hard red winter wheat futures advanced to 639-6, gaining 4-6 on the session. The contract is now pressing against late June highs, and a breakout above 640 could trigger technical buying. Support remains well established near 625-0 with firm volume action underpinning the trend.

Support: 625-0
Resistance: 642-0

🌾 Minneapolis Spring Wheat Futures (MWU25)

Spring wheat surged higher to 6.5400, gaining 1.25 cents. The chart shows a strong V-reversal that began late June and extended into July 2. Momentum remains bullish with fresh highs on the move. A key psychological target is 6.6000, while prior resistance at 6.4900 now serves as support.

Support: 6.4900
Resistance: 6.6000

Source: Chart data via ICE/CME, compiled by Paradigm Futures.