Corn prices have been on a rollercoaster with late June having a sharp break, then nearly a dollar rally with a high at 6.58, then into Tuesday and Wednesday morning it collapsed, since then we have started to rebound again.

Mixed news for both the bulls and the bears, bulls will claim that we are showing some bottoming action and that we did not take out last week’s low with the technical pointing higher, but the bears will point out the overall trend is a downtrend off the highs posted during May.

The December corn chart has overhead at 6.58 and chart support at 5.66, and weather will determine whether we work higher or lower in that range.