July Corn Chart

Corn prices are in a long-term uptrend, the intermediate term trend is also upward, but the short-term trend has turned down off of last week’s high. Technical indicators have turned down as well.

Today’s strong close may allow our technical to turn up again but there needs to be some follow through for the prices to challenge the highs at 8.14 to keep the overall trend upward.

If we do not get bullish news this market could fall in to the 7.60 range.