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Corn is slowly making its way higher, closing up in 3 1/2 in December to 435. March ’26 corn closed up 4 1/4 cents to 449. The November WASDE report is confirmed for the 14th. Next Friday’s report will be the first report from the USDA since the September WASDE and the Grain Stocks report at the end of September. Looking historically, corn yield changes from the September to November report were higher in 6 of the last 10 years. Yield changes were also higher 3 of the last 5 years during the same timeframe. I think there’s a good chance the USDA leaves its corn yield estimate close to unchanged on the November report. Some farmers and market analysts expect a yield cut from the 186.7 bpa estimate in September. If that materializes, the change would likely be made on the January report. If you don't like the customer service or lack of personal attention you are receiving from your broker, you have options, and you don't have to stay there. Account transfers are easy and so is opening a new account. Sign Up Now Momentum may slow around the November WASDE if it doesn’t come out friendly. There is a drop in prices at the end of November/beginning of December when looking at a 15-year seasonal chart. The Dec25/March26 spread is widening, moving from -12 1/2 on Friday to today’s price at -14 1/4. Basis is also moving lower. Corn prices are likely to be higher in 2026, so buying calls on a break in price could be very profitable. December corn is 45 cents off the low from August and 70 cents off the high from February. If you’ve read this article and would like more information about the commodity markets, or if you’d like to open an account with Walsh Trading, please use the link below: Sign Up Now December & March ’26 CORN Call Spread Buy 1 December 440 Call 3 7/8 Sell 1 March 460 Call 10 1/4 Price: 6 3/8 Cost: $318.75 Credit/Trade Package, Plus Fees and Commissions. December’25 Corn Options Expire 11/21/25 (16 Days) MAXIMUM LOSS: LIMITED MAXIMUM GAIN: 20 cents/Trade Package You get paid $318.75 to put this trade on. Exit the trade before December corn expires. March ’26 CORN Call Spread Buy 1 March 450 Call 13 5/8 Sell 1 March 480 Call 2 3/4 Price: 10 7/8 Cost: $543.75 Debit/Trade Package, Plus Fees and Commissions. December’25 Corn Options Expire 2/20/26 (107 Days) MAXIMUM LOSS: LIMITED MAXIMUM GAIN: 30 cents or $1,500/Trade Package The maximum loss on the trade is the cost the trade. The maximum gain is the width of the spread. January & August ’26 SOYBEAN OIL Buy Calls & Sell a Put Spread Buy 3 January 54.00 Calls 0.54 1/2 Sell 1 August 47.00 Put 2.160 Buy 1 August 40.00 Put 0.56 1/2 Price: 0.04 Cost: $24 Debit/Trade Package, Plus Fees and Commissions. December’25 Corn Options Expire 12/26/25 (51 Days) MAXIMUM LOSS: LIMITED You can get in this trade for only $24/Trade Package. This is a long-term trade you can sit with. The target for soybean oil on this trade is 61-62. NOW IS THE TIME TO OPEN AN ACCOUNT BEFORE ANOTHER MONTH PASSES BY - (Only 2 Months Left This Year) If you hit the link and provide your information, you will have a wealth of Market information at your fingertips. Sign Up Now Link to Monday's Article: Walsh Gamma Trader Thank you to all of my Canadian Customers. If you live in Alberta or Ontario, you are able to open an account in the USA. Hopefully we can work with the Province of Saskatchewan, and all Canadian Provinces soon. Thank you to all of my old and new Customers. I appreciate your business. To those of you that are close to opening an account, please call me if you have any questions, and I look forward to working with you soon. To anyone thinking about opening a Hedge or Trading account, give me a call and we can talk about it. Hans Schmit, Walsh Trading Direct 312-765-7311 Toll Free 800-993-5449 hschmit@walshtrading.comwww.walshtrading.com Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
