MNI: PBOC Net Drains CNY37 Billion via OMOs Wednesday

CHINA SETS YUAN CENTRAL PARITY AT 6.8715 WEDS VS 6.8763

MNI: UK DEC-FEB MEDIAN PAY AWARDS +6% :XpertHR

Coming Up In The Asia-Pac Session on Wednesday

US Treasury Auction Calendar

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

MNI BRIEF: Joint European Funds Best Response To IRA-Gentiloni

MNI BRIEF: Fed, Treasury, FDIC-Big Banks Back First Republic

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
THAILAND

Elections On May 14, Opposition Well In The Lead

BUND TECHS

(M3) Approaching Key Support

EQUITIES

Rallying Ahead Of FOMC

FOREX

AUD Outperforms, USD Moderately Pressured

OIL

Crude Down Ahead Of Expected Fed 25bp Hike

KRW

Correlation With Equities Weaker In 2023, Equity Flows Lagging Kospi Rebound

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
Trending Top 5
Market News Topics

(H3) Key Resistance Remains Intact

CORN TECHS
Commodities TechEM BulletHomepagemarkets-real-timeCommoditiesEmerging Markets NewsBulletMarketsFixed Income NewsForeign Exchange News
  • 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: $685.00 - High Dec 30
  • PRICE: $672.50 @ 14:32 GMT Jan 17
  • SUP 1: $648.25 - Low Jan 10
  • SUP 2: $635.00 - Low Dec 7 and the bear trigger
  • SUP 3: $623.38 - 61.8% of Jul 22 - Oct 10 bull cycle
  • SUP 4: $611.50 - Low Aug 18

Corn futures bounced last Thursday and are trading above the recent low of $648.25 on Jan 10. Short-term gains are considered corrective while resistance at $685.00, the Dec 30 high, remains intact. Note that moving average studies are highlighting a bearish backdrop, signalling a dominant downtrend. A resumption of weakness would signal scope for a move $635.00, the Dec 7 low. Clearance of $648.25 would alter the picture.

152 words

To read the full story

Why Subscribe to

MNI

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.
  • 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: $685.00 - High Dec 30
  • PRICE: $672.50 @ 14:32 GMT Jan 17
  • SUP 1: $648.25 - Low Jan 10
  • SUP 2: $635.00 - Low Dec 7 and the bear trigger
  • SUP 3: $623.38 - 61.8% of Jul 22 - Oct 10 bull cycle
  • SUP 4: $611.50 - Low Aug 18

Corn futures bounced last Thursday and are trading above the recent low of $648.25 on Jan 10. Short-term gains are considered corrective while resistance at $685.00, the Dec 30 high, remains intact. Note that moving average studies are highlighting a bearish backdrop, signalling a dominant downtrend. A resumption of weakness would signal scope for a move $635.00, the Dec 7 low. Clearance of $648.25 would alter the picture.