Free Trial

(H3) Has Breached Support

  • RES 4: $768.50 - High May 16 and a key resistance
  • RES 3: $753.00 - High Jul 17 and a key resistance
  • RES 2: $711.75/721.38 - High Oct 10 / 76.4% May 16-Jul 22 bear leg
  • RES 1: $673.44 - 50-day EMA
  • PRICE: $648.75 @ 13:44 GMT Dec 5
  • SUP 1: $638.50 - Low Aug 23
  • SUP 2: $611.50 - Low Aug 18
  • SUP 3: $595.00 - Low Aug 3 /
  • SUP 4: $568.75 - Low Jul 22 and key support

Corn futures are trading lower and the contract has broken out of its recent range. Importantly, support at $653.50, the Nov 15 low and a bear trigger, has been cleared. The clear break signals scope for a deeper pullback and this opens $638.50, the Aug 23 low. On the upside, key resistance is at $711.75, the Oct 10 high. A break of this hurdle would represent a key bullish development and reinstate the uptrend that started Jul 22.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.