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

MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

MNI: BAKER HUGHES US RIG COUNT 625; OIL RIGS 505; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

(H4) Trend Needle Points South

CORN TECHS
Commodities TechEM BulletHomepagemarkets-real-timeCommoditiesEmerging Markets NewsBulletMarketsFixed Income NewsForeign Exchange News
  • RES 4: $582.75 - High Jul 24 and a key resistance
  • RES 3: $565.50 - High Jul 27
  • RES 2: $535.25 - High Aug 2
  • RES 1: $521.50 - High Oct 20
  • PRICE: $489.50 @ 14:40 GMT Nov 17
  • SUP 1: $476.50 - Low Nov 13
  • SUP 2: $473.31 - 0.764 proj of the Jun 21 - Jul 13 - Jul 24 price swing
  • SUP 3: $439.50 - 1.00 proj of the Jun 21 - Jul 13 - Jul 24 price swing
  • SUP 4: $405.69 - 1.236 proj of the Jun 21 - Jul 13 - Jul 24 price swing

A bearish outlook in Corn futures remains intact and recent weakness reinforces this theme. Key support and the bear trigger at $482.50, the Sep 19 low, has been breached. The clear break of this level has confirmed a resumption of the downtrend and opens $473.31, a Fibonacci projection. Key resistance has been defined at $521.50, the Oct 20 high. A break of this level is required to signal a short-term reversal.

169 words

To read the full story

Why 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: $582.75 - High Jul 24 and a key resistance
  • RES 3: $565.50 - High Jul 27
  • RES 2: $535.25 - High Aug 2
  • RES 1: $521.50 - High Oct 20
  • PRICE: $489.50 @ 14:40 GMT Nov 17
  • SUP 1: $476.50 - Low Nov 13
  • SUP 2: $473.31 - 0.764 proj of the Jun 21 - Jul 13 - Jul 24 price swing
  • SUP 3: $439.50 - 1.00 proj of the Jun 21 - Jul 13 - Jul 24 price swing
  • SUP 4: $405.69 - 1.236 proj of the Jun 21 - Jul 13 - Jul 24 price swing

A bearish outlook in Corn futures remains intact and recent weakness reinforces this theme. Key support and the bear trigger at $482.50, the Sep 19 low, has been breached. The clear break of this level has confirmed a resumption of the downtrend and opens $473.31, a Fibonacci projection. Key resistance has been defined at $521.50, the Oct 20 high. A break of this level is required to signal a short-term reversal.