Free Trial

(Z2) Clears $600.00

  • RES 4: $800.00 - Psychological round number
  • RES 3: $766.25 - High Apr 29 and the bull trigger
  • RES 2: $695.56/749.25 - 50-day EMA / High Jun 17
  • RES 1: $627.00/667.75 - High Jul 1 / High Jun 28
  • PRICE: $576.75 @ 14:38 BST Jul 4
  • SUP 1: $565.00 - Low Feb 3
  • SUP 2: $549.00 - Low Jan 12
  • SUP 3: $539.25 - Low Dec 15 2021
  • SUP 4: $508.00 - Low Oct 13 2021

Corn futures remain bearish. The contract traded lower last week to once again confirm an extension of the current bearish cycle. The move down maintains the bearish price sequence of lower lows and lower highs and note too that moving average studies are in bear mode condition. The contract is through $600.00 and this signals scope for weakness towards 565.00 next the Feb 3 low. Key short-term resistance is at $695.56, the 50-day EMA.

To read the full story



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.