December Corn: December futures completed bullish spike reversals during August 2024 and 2025. It’s likely Dec25 established the high-end of a potential major (long-term) sideways range back in February at $4.7975, similar to what occurred during the winter of 2014-2015. Recall that sideways pattern would last through the fall of 2020. If Dec corn is in a new major sideways trend with a high-end near $4.80, the low end would be the August 2024 low of $3.8550. The range back in 2014 to 2020 was from the low near $3.20 (September and October 2014) through the highs near $4.20.

Theoretical Positions:

  • Hedgers:
    • See Weekly Analysis: Grains (both Futures and Cash)
  • Investors:
    • Long Dec26 futures at roughly $4.6225
    • There are no option positions on at this time, though we will look for an opportunity to sell calls near the high end of the sideways range at roughly $4.80. Dec26 closed January at $4.56 with daily market volatility at 17.6%.
  • Long-term investors will want to still be long Dec corn based on the bullish spike reversal at the end of August 2024 on the continuous monthly chart confirming the end of the previous long-term downtrend from May 2022. Another bullish spike reversal was completed at the end of August 2025.

November Soybeans: It could be argued that Nov26 completed a bearish 2-month reversal at the end of December, telling us the major trend had turned down. If so, then the recent rally could be viewed as a selling opportunity. Theoretical Positions: Long-term investors may have had buy stops above the previous Nov25 4-month high of $10.7425, the equivalent in Nov26 at $10.88. It’s also possible these same investors got out of those long positions at the end of December with Nov26 priced at $10.6450 and are looking for an opportunity to go short.

Teucrium Corn Fund (CORN) remains in a major sideways trend. However, CORN did complete a bullish outside month during October, possibly sparking another round of buying interest. Theoretical Positions: CORN could’ve been bought near the August 2024 settlement of $17.70. Some may have added longs, or initiated initial positions near the August 2025 settlement of $17.57 based on a bullish spike reversal. A new round of buys could’ve been made near the October settlement of $17.79. All these combined would put the average position near $17.75. CORN closed January at $17.48, down $0.25 for the month.

The Teucrium Soybean Fund (SOYB) confirmed a major uptrend at the end of December 2024 as it completed a bullish spike reversal. Since then there have been numerous rallies and selloffs creating a less than clear technical picture. Theoretical Positions: Investors might’ve bought near the December 2024 settlement of $21.48 with sell stops below the December low of $20.20. Some may have added long positions near the April 2025 settlement of $21.47. Additional longs could’ve been added near the October 2025 settlement, creating an average price of $22.13. SOYB closed January at $22.24, up $0.38 for the month.

The Teucrium Wheat Fund (WEAT) completed a bullish key reversal during January, once again telling us the major trend has turned up. We’ve seen this before, though, most recently at the end of October 2025. Theoretical Positions: If investors want to take another shot at going long the market, they can do so near the January settlement of $20.97 with a sell stop below the January low of $19.78.