Free Trial

Won Surges To Multi-Week Highs

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(H2) Off Highs, But Uptrend Intact

  • RES 4: $640.50 - High May 7 and a major resistance
  • RES 3: $633.00 - High Jun 10
  • RES 2: $630.81 - 123.6% Extension of the Nov 30 - Dec 28 Upleg
  • RES 1: $617.75 - High Dec 28
  • PRICE: $595.25 @ 11:40 GMT Dec 31
  • SUP 1: $581.50/62.50 - Low Dec 14 / Low Nov 30
  • SUP 2: $557.50/516.25 - Low Nov 9 / Low Oct 13
  • SUP 3: $506.75 - Low Sep 10 and bear trigger
  • SUP 4: $494.00 - 76.4% retracement of the Mar 30 - May 7 rally

Corn futures trade off highs, but have remained solid throughout holiday trade and are now trading either side of the $600.00 level and a host of resistance points. The recent break higher confirms a resumption of the current uptrend and sets the scene for a climb towards $630.81, a Fibonacci extension level. A break of this level would open the highs from May. On the downside, key support has been defined at $562.50, the Nov 30 low. Initial support lies at $581.50, the Dec 14 low.

MNI London Bureau | +44 203-865-3809 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.