July Corn Chart

Corn prices had a wild week posting a high on Tuesday at $6.84 and low Wednesday at $6.29. Corn had a 55 cent trading range from this week’s high on Tuesday to the low on Wednesday. And today we rallied the market sharply pushing back towards the overhead resistance level at $6.84. We believe weather will be the primary driver next week. If there is rain in the forecast especially for the western or northern western belt this market could see a significant pullback. If the weather looks dry going forward this market could challenge of push into new highs. We’re entering a weather market and next week’s trade will be all about the weather forecast.