July Corn Chart

Corn prices are trending lower off of the highs that were posted on Monday and for the second day in a row corn price are finding support at the 40-day moving average.

Todays close at 7.78 is about a dime above last week’s lows, if we don’t get supportive news early next week that 7.59 would be the next target from a downside objective.

If we get friendly news this week’s high at 8.10 would be the next objective.