Corn prices posted a new high yesterday keeping our long-term uptrend intact. We did pull back today, but the long-term trend is still an uptrend, the intermediate term trend is an uptrend, and the short-term trend, although we were lower today, is also appearing to turn upward.

Technical indicators are stuck in a neutral range with no clear direction. It will be weather items and Russia’s war against Ukraine that will determine price direction next week.