July Corn Chart

Corn prices were very disappointing from a chart perspective.

After trying to turn higher late last week the market reversed and traded and closed sharply lower making a new low for the move at 7.47 on the July chart.

That’s a very disappointing close and it may signal 7.44 as the next level of chart support.

Technical indicators after chopping back and forth for two weeks did turn lower again on todays sharp break to the downside.