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This is November Euronext corn making new contract highs for the year. I’m going to slide this chart sideways so you can see exactly what we’re looking at. November Euronext corn is up $6.25 per metric ton today, pushing above its previous contract high by approximately $4. That’s impressive, and it’s part of the reason U.S. corn is being pulled higher, moving through its 200-day moving average during today’s session.

Now, let me show you something else.

This is the French milling wheat contract, which is now within just a few dollars per metric ton of new contract highs. New data released this morning has this market up nearly $4 per ton, providing additional strength to our markets.

Let me pull up this chart on your phone. Take a look at that uptrend dating back to the May low and continuing through June. This continuation chart shows a market that appears ready to start pulling U.S. grain prices higher following a sharp 40-day decline that began September 2.

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*This is not trading advice; past results are not indicative of future results*

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.