Grain Express

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Corn (December)

Fundamentals: December corn futures chopped around yesterday but are rolling over in the overnight/early morning trade on the back of technical selling. Today’s export sales report showed Net sales of 2,139,000 MT for 2020/2021 were primarily for China (566,400 MT), unknown destinations (371,500 MT).

Technicals: Corn futures are continuing to breakdown, testing our first support pocket which we have had defined as 359 ½-363 ¼. This pocket represents previously important price points, a key retracement, and the 200-day moving average. A failure to hold this level would.....Please sign up for a Free Trial at Blue Line Futures to have our entire technical outlook, actionable bias, and proprietary levels emailed each morning.