July Corn Chart

Corn prices have carved out a range over the last week, week and a half and it’s a similar range to where we consolidated briefly on the way up back in late April. That range shows chart support at $6.29-$6.33. Overhead resistance at $6.84 and today’s close at $6.57 very close to the middle of that range and anything within this range and anything within this range seems to be fair game in the near term. Technical indicators are not extremely oversold but they have leveled off over the last week as prices have consolidated.