May Corn remains in our “No-Trade Zone” while the buyers and sellers fight to control the trend.
A Daily close above 434'6 suggests 445 will be retested.
However, we require a Daily close above 445 to become Short-term Bullish.
There is a considerable supply of sellers between 460 and 500, suggesting that any dramatic move to the upside will take time.
Trent Klarenbach, BSA AgEc, publishes the Klarenbach Grain Report and the Klarenbach Special Crops Report.
Klarenbach Research
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On the date of publication, Trent Klarenbach did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Disclosure Policy here.
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