Technically Speaking
Darin Newsom DTN Senior Analyst

Friday 07/11/14

Why Corn Could Close Higher Friday
Though pre-USDA report estimates are bearish for corn, it is possible that the market, led by the December contract, could close higher Friday.[Read Full Blog Post]
Posted at 7:53AM CDT 07/11/14 by Darin Newsom | Post a Comment
Comments (6)
Also, I will be appearing on Iowa Public Television's Market to Market program this week. Check your local listings for air time, or find it on the program's website: http://www.iptv.org/mtom/ It should be an interesting discussion given recent events in the markets.
Posted by DARIN NEWSOM at 9:41AM CDT 07/11/14
Looks like no such luck Darin. If some sudden weather or world event doesn't take hold, the outlook for corn couldn't be much more bearish.
Posted by Peter Smith at 1:09PM CDT 07/11/14
the greedy bear cant stay out of the garbage till the bear knocks him out.
Posted by andrew mohlman at 5:20PM CDT 07/11/14
sorry bull knock bear out
Posted by andrew mohlman at 5:25PM CDT 07/11/14
Peter, you are correct in that it is going to take a dramatic change in weather or some sort of global event to change the path corn is on. It is interesting to look back at the monthly chart and see it has been more than three years now since corn established its major (long-term) downtrend. However, from a technical point of view, the corn market is sharply oversold (long-term). At some point this could create renewed buying interest. Friday's CFTC report showed noncommercial traders rebuilding a small portion of their net-long futures position, though this was through Tuesday, July 8 so we'll have to see what the next Commitments of Traders report brings.
Posted by DARIN NEWSOM at 8:21AM CDT 07/12/14
Andrew, interesting thought on the greedy bear getting knocked out by the bull. As discussed in the blog, it could certainly happen if commercial buying returns to the corn market.
Posted by DARIN NEWSOM at 8:24AM CDT 07/12/14
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