The USDA's June WASDE report left the 2026/2027 U.S. corn price forecast unchanged at $4.40 per bushel, with slightly higher beginning and ending stocks and an increase in global corn stocks from the previous month, which was bearish for prices. New-crop December CBOT corn futures have fallen 14.3% from a May 13 high of $5.0650 to a June 15 low of $4.3425, pressured further by an 11.8% drop in ethanol swap prices and a 26.5% decline in RBOB gasoline futures. Teucrium's Jake Hanley noted the overall fundamental corn data was more bearish than bullish. Technical support lies near the August 2025 low of $3.92 and the August 2024 low of $3.85, with resistance at the May 2026 high of $4.8750.