Corn prices exploded to new highs, we didn’t close exceptionally strong, but still up on the day.

A new high established for this move and last week’s low at 5.76 did not take out the low from the previous week at 5.66.

Overall, this shows the short-term trend for corn is up and the technical is pointed up as well.

The intermediate term trend is still down, this means we could see some overhead resistance in the 5.50-5.60 range.

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.

1/3 of the belts could see extreme conditions, 1/3 could see favorable conditions, and 1/3 could be going back and forth between the favorable and extreme conditions.

Corn prices overall fairly supportive today.

We were able to trade and close higher on the day so therefore the chart looks good.

Doesn’t look like a breakaway and we certainly feel back sharply off the highs from Sunday and Monday morning.

The chart looks good and enough to keep the technical pointed upward as well.

Corn has chart support at 5.66 and overhead resistance at 6.58.

Corn prices made a new low for this move at 5.76 on the December chart, so that’s still above the lows from last week at 5.66. We closed at 5.95, so we closed 19 cents off the daily low.

That doesn’t do much for the chart, but we are hoping following todays close we can start to see the market moving higher.

Corn prices down sharply today from yesterday morning until today this corn market has given back almost all the rallies.

Extreme volatility is and will continue to be a big factor in the corn market right through July and into August.

Current chart support at the previous lows of 5.66, current overhead resistance at 6.58.

Corn prices up sharply especially overnight last night with a high of 6.58.

We still closed higher but we closed at 6.29, 29 cents off the daily high.

The chart and the technical are both pointed upward.

Corn prices fell dramatically over the last 3 weeks, but we have seen a significant bounce.

Today’s high at 6.23, 41 cents above yesterday’s low at 5.82.