FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

(Z3) Bull Rally Extends

CORN TECHS
  • RES 4: $634.75 - 76.4% of the Apr 27 ‘22 - May 18 downleg
  • RES 3: $613.75 - High Dec 30 2022
  • RES 2: $607.25 - 61.8% of the Apr 27 ‘22 - May 18 downleg
  • RES 1: $598.75 - High Feb 6 and 14
  • PRICE: $589.25 @ 14:32 BST Jun 16
  • SUP 1: $549.75 - Low Jun 15
  • SUP 2: $520.25 - Low Jun 8 and a key near-term support
  • SUP 3: $490.25 - Low May 18 and the bear trigger
  • SUP 4: $476.00 - Low Oct 13 2021

Corn futures are trading sharply higher as this week’s strong bull cycle extends. The contract has cleared resistance at $576.25, the Mar 29 high and a key resistance. This reinforces bullish conditions and paves the way for a climb towards $598.75, the Feb 6 and 14 highs. The uptrend has entered overbought territory and may be an early warning that upside momentum will slow. A firm support is seen at $549.75, Thursday’s low.

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.