Automatic wave scan: as of 19 Oct 2026, the automatic daily count for Corn is Wave 1 down with a bearish bias. The count stays valid while price holds 544.50.
Current Corn wave count
Automatic wave scan Updated daily from the latest daily close (19 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 1, the first leg of a five wave decline that began at 544.50 on 22 Sep 2026. Next levels to watch are 444.33 and 417.08. The count fails on a daily close above 544.50.
Key levels
| Type | Levels |
|---|---|
| Resistance | 544.50 · 468.00 |
| Support | 434.00 · 398.50 |
| Invalidation | 544.50 |
What is Corn?
Corn futures trade on the CBOT in cents per bushel, with 5,000 bushels per contract. The United States is the largest producer and exporter, and Brazil is a major competitor.
A large part of US corn goes to animal feed and to ethanol fuel, which links corn prices partly to energy markets.
What moves the Corn price?
- US growing season weather: Heat and dryness in July, when corn pollinates, can cut yields.
- USDA reports: WASDE, planting intentions and acreage reports move prices.
- Brazil's crop: Brazil's second crop competes with US exports.
- Ethanol and energy: Higher oil prices can raise ethanol demand.
- Export demand: Purchases from China, Mexico and Japan affect US sales.
How Corn moves in Elliott Wave terms
Corn often forms long corrective declines with sharp, weather driven rallies. These rallies can form clear impulses, but many end as three-wave moves. Seasonal highs often appear in early summer if weather is uncertain.
Use the weekly chart for the main count and the daily chart for timing around report dates.
Tips for counting Corn waves
Mark the June acreage report and WASDE dates. Watch weather maps during US summer.
Corn key facts
Corn Elliott Wave FAQ
Why does weather matter so much for corn?
Corn yields depend heavily on rain and temperature, especially during pollination in July.
How is corn linked to oil?
Part of US corn is used to make ethanol, which is blended into gasoline, so oil prices can affect demand.
Who is the largest corn producer?
The United States, followed by China and Brazil.
Sources and further reading
- World Agricultural Supply and Demand Estimates (U.S. Department of Agriculture)
- Corn futures contract specs (CME Group)
- Crop Production reports (USDA NASS)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
