MNI China Daily Summary: Friday, December 6

MNI BRIEF: BOJ Tankan To Show Slipping Sentiment

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI: EUROZONE Q3 GDP +0.4% Q/Q, +0.9% Y/Y

MNI: GERMANY OCT IND PROD -1% M/M

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

(Z1) Extends This Week's Pullback

CORN TECHS
  • 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: $600.00 - Round number resistance
  • RES 1: $594.25 - High Aug 12
  • PRICE: $557.75 @ 13:44 BST Aug 19
  • SUP 1: $532.25 - Low Jul 26
  • SUP 2: $507.00 - Low Jul 9
  • SUP 3: $500.25 - Low May 26 and the bear trigger
  • SUP 4: $481.50 - Low Apr 7

Corn futures rallied Aug 12, materially improving the short-term outlook. Price has since pulled back though but this is likely a correction. Further gains would pave the way for strength towards $611.25, the Jul 1 high and potentially $628.25, the Jun 10 high. Major resistance is at $638.00, May 7 high. For bears, a break of $532.25, Jul 26 low would expose the support at $507.00, Jul 9 low and $500.25, May 26 low. The latter is a key level.

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.