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ZC corn futures explained: what moves corn, and when to watch

Corn trades on a calendar set by nature. Planting, the summer heat, harvest: each season brings its own questions, and the price moves as the answers come in.

Market guide · 6-minute read · Updated 2026-10-21

At a glance

Specs checked Oct 2026. Check cmegroup.com for current specs before you trade.

How the price works

Corn is quoted in cents per bushel. A price of 430'2 means 430 and 2/8 cents, or 430.25 cents ($4.3025 a bushel). Each 1/4 cent tick is $12.50 on 5,000 bushels. A 10-cent move is $500 per contract.

Corn futures also have daily price limits. If price moves a set amount from the day before, trading can only continue inside that limit. CME resets those limits twice a year, in May and November.

What moves it

US weather. The US grows more corn than anyone. A hot, dry July, when the plants pollinate, can matter more than any report.

USDA reports. The US Department of Agriculture publishes the reports corn traders plan their months around:

• WASDE (world supply and demand estimates): monthly, at 12:00 pm ET.
• Crop Progress: Mondays at 4:00 pm ET, April to November. It rates how healthy the crop looks.
• Prospective Plantings (late March) and Acreage (late June): how much farmers plan to plant and did plant, at 12:00 pm ET.
• Export Sales: Thursdays at 8:30 am ET.

South America. Brazil and Argentina grow big crops during the US winter. Their weather moves corn when US fields are empty.

Demand. Animal feed, ethanol made from corn, and exports. The US dollar matters too: a strong dollar makes US corn pricier abroad.

When it's busiest

Corn has two sessions with a gap between them. CME sets hours in Chicago time, which changes clocks with New York.

• 8:00 pm – 8:45 am ET: the overnight session. Thinner.
• 9:30 am ET: the day session opens. Most volume comes now.
• 12:00 pm ET: USDA report days.
• 2:20 pm ET: the day session closes. Settlement is set near here.

Its personality

• Seasonal. Summer weather markets can be wild. Winter is often calmer, with South America in focus.
• Report-day jumps. A big surprise in a USDA report can send corn toward its daily limit.
• Gaps between sessions. News between 8:45 and 9:30 am ET, or over the weekend, can open price away from where it was. See Gap.
• Physically delivered. Contracts expire in March, May, July, September and December. Most traders roll before the delivery period. See Contract rollover.

Reading it with our method

1. Daily and weekly charts first. Mark the last places price turned around. Seasonal trends show up best on bigger charts.
2. Trade with the bigger direction. In a strong summer move, fading it is hard.
3. Body-close rule. Report-day spikes leave long tails. Only a candle body closing past a level counts.
4. Stop first, size second. Example: your stop is 8 cents away. That's 32 ticks × $12.50 = $400 of risk for one contract. If your plan says $150, one ZC is too big, and smaller grain contracts may fit better. A math example, not a promise.

The futures tick value calculator checks this fast.

Common mistakes

• Holding through a USDA report without a plan. Know the date and time. Many traders are flat at noon on WASDE day.
• Forgetting the limit. At a daily limit, you may not be able to exit until the next session.
• Treating cents as dollars. 430 means $4.30 a bushel, and each cent is $50 per contract.
• Staying in past first notice. Delivery contracts need rolling. Check your broker's deadline.

Questions