MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(K3) Bearish Outlook

CORN TECHS
  • RES 4: $712.00 - High Oct 10
  • RES 3: $702.50 - High Oct 31
  • RES 2: $686.00 - High Jan 18 and a key resistance
  • RES 1: $651.13/660.88 - 20-day EMA / 50-day EMA
  • PRICE: $624.25 @ 14:44 GMT Mar 9
  • SUP 1: $622.25 - Low Aug 19 and the bear trigger
  • SUP 2: $615.25 - Low Aug 18 2022
  • SUP 3: $606.38 - 76.4% of the Jul 22 - Oct 10 20 2022 bull cycle
  • SUP 4: $573.75 - Low Jul 22 and a major support

Corn futures remain vulnerable. The recent sharp sell-off (late February) highlights a bearish threat and the contract is once again trading closer to its recent lows, reinforcing a bearish theme. The 640.00 handle has been breached and price has also traded through a key support at $636.75, the Dec 7 low. The break paves the way for $615.25, the Aug 18 2022 low. On the upside, initial resistance is seen at $651.13, the 20-day EMA.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.