July Corn Chart

Corn prices trading lower today, breaking below trend line support shown by the blue arrowed line and finding support at the black line which is the 40-day moving average.

We mentioned yesterday if we did not find support at our trend line that the next target would be around the previous lows from a week ago at 7.69 and todays low came within 4 cents of that low.

Additional chart support is at 7.69, that’s 14 cents below todays close with current overhead resistance at 8.10.