About this chart: This is the monthly continuation chart of CBOT corn. You can see the major low ($3.00) in April 2020, and the rally (of $5.27 per bushel) to a major high at $8.27 in April 2022. From that major high, corn futures corrected down to the next major low ($3.60) in August 2024 with an important secondary low ($3.69) in August 2025. This week, futures rallied to new two-year highs when nearby corn hit $5.39.
What does this mean for you: If nearby futures can close above $5.39 and $5.50, then the next level of resistance for the nearby contract is $6.14, the July 2023 high.