Eddyville

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Market Commentary 7/3/2025 

What a week in the market. Corn ended the day higher though substantially off the highs of the day. In the last two days Dec corn rallied nearly 26 cents from Wednesday’s low to today’s high, closing up 21 cents from the low. Nov beans had a range of 40 cents from Mondays low to today’s high. Dec corn closed above the support/resistance zone of 4.27 to 4.34, though it found resistance on the downtrend line. Dec needs to hold above this range and break above that downtrend line if we want a shot at higher prices, the Fib retracement from Feb highs points to 4.55, and the insurance price of 4.70 will be a key target to watch as well. This rally was triggered by fund short covering ahead of the long weekend, combined with an expected trade deal announcement from President Trump in Iowa tonight. However, today’s price action tells us the market isn’t confident this rally will continue after today, closing 5 cents off the high. Nov beans bounced above then closed below the Fib retracement level of 10.50 from Feb highs. Though the bean chart looks better than the corn chart. Have a great, safe weekend! 

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