Our January 17 analysis suggested the Corn downtrend is ready for a break with the following comments:
Corn continues grinding lower after breaking through the upper level of our price target range. The bottom of our range at 436'4 is nearby.
Will buyers step in to provide a reprieve from the downtrend?
Will the price follow our price path idea back up to $5 before moving lower to the $3.00 level?
A new low was made today when the bottom of our target range at 436'4 was ticked.
With the first target reached, will the Corn price follow the path suggested by the red arrow?
Stay tuned
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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