July Corn Chart

Corn price did not make a new high for the first time in over a week. We had a very disappointing close. It was enough to turn our technicals down. This tells us the market may be interested in testing the first major level of just support at $6.84 and that’s about 25-30 cents below where we’re currently trading which is certainly a possibility after the market rallied $2.17 in 5-6 weeks. A correction back towards $6.84 can not be ruled out.