July corn futures will expire on Monday, July 14. Currently there is a 14-cent discount from July to September futures (September is 14 cents below July). If this discount continues through Monday, then that means there will be a sizable gap lower on the continuation chart. With September sitting right at the $4 mark today, this chart setup is likely to favor the bears as we head into mid-July.
Get our daily in-depth analysis delivered directly to your inbox by 5:30 AM CST each morning, along with other services created specifically for farmers, when you become a Kluis Commodity Advisors client. Try our Kluis Commodity Advisors 30-day free trial to test it out.