CDR Farms LLC -

WALSH PURE SPREADER ….

SEPT ‘25-DEC ‘25 CORN SPREAD (ZCU25-ZCZ25)

6/5/2025 - Rich Moran

Settlement : -16¾ 

Day’s Range : High -16, Low -17¼ 

52-Week Range : High +3¼, Low -17 ¼   

In my last article I wrote about looking for a reason/opportunity to stick our toes in the water with some longs in the corn futures.  I suggested that if and when the time is right, the over-all risk/reward may be in the buyer’s favor.

There was recent a downward trend in JULY CORN from 5/22’s high of $4.64¾ when it settled $4.63 until 6/2 when it settled $4.38.  We had five out of six down days. The one day it wasn’t down, was when it settled steady on 5/27.  After this recent downward trend, it has settled $4.38½, on 6/3, $4.38¾ on 6/4 and it is still trading right there now as I write.

I am definitely not saying CORN has hit bottom, but it might not be a bad time to start looking for opportunities. 

Since JULY CORN has come down from its 52-week highs of 521½ on 2/19/25, the spread of the SEPT ’25 contract over/minus the DEC ’25 contract (ZCU25-ZCZ25) has gone from +3¼  cents to  -17¼  cents today.

It is my belief that it might be the JULY CORN contract that has possibly been pulling/holding the SEPT contract below the DEC contract.  Buying this spread might be a nice way to begin when looking for opportunities in the CORN market from the long side.

I would suggest starting with buying this spread at -18, then -20 and -22.  If we are able to buy all three levels, we will be long 3 spreads at an average of -20.

Risk 5 cents (-25) or $750 Per 3 Spread Package to make 15 cents or $2,250 Per 3 Spread Package, plus fees and commissions.

For the Corn Spread Mini :

Risk 5 cents (-25) or $150 Per 3 Spread Package to make 15 cents or $450 Per 3 Spread Package, plus fees and commissions.

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Rich Moran

Senior Commodities Broker

RMoran@walshtrading.com

Direct: (312)985-0298

Cell: (773)502-5321

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