July Corn Chart

Corn prices collapsed today, down the 40-cent limit sitting right on chart support. Due to the fact that there were traders that wanted to sell corn down 40-cents but it was locked limit, we could open up the overnight session lower to allow any final sales to be made in the early overnight session. At this time prices have gone down to test chart support. If that does not hold than the $6.02 spike low from May would be the next target for the July corn chart.