Near Term Trend: Negative
Friday’s Close: 352’2 (- 5 1/2 cents)
UPDATE: Three weeks ago, we stated, “At this juncture, the market is oversold but to scalp a trade on the long side for a bounce is risky”.
As it turned out Corn fell 35 cents.
How low is low? Old support dating back to March was violated two weeks ago, and in spite of the jump two days ago, this remains a tenuous situation.