(Z1) Consolidation Mode

• RES 4: $638.00 - High May 7 and the bull trigger
• RES 3: $611.25/28.25 - High Jul 1 / High Jun 10
• RES 2: $586.63 - 76.4% of the Jul 1 - 9 sell-off / 611.25 - High Jul 1
• RES 1: $573.00 - High Jul 21
• PRICE: $550.75 @ 13:44 BST Jul 29
• SUP 1: $507.00 - Low Jul 9
• SUP 2: $500.25 - Low May 26 and the bear trigger
• SUP 3: $481.50 - Low Apr 7
• SUP 4: $449.50 - Low Mar 30

Corn futures are unchanged and remain below last week's high of $573.00 on Jul 21. A bearish theme remains intact and the focus is on support at $507.00, Jul 9 low and $500.25, May 26 low. Clearance of these levels would confirm a resumption of the move lower that started May 7 and would signal scope for a sell-off to $481.50, the Apr 7 low. For bulls, clearance of $573.00 would instead open $611.25, Jul 1 high.