NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Mon Apr 29, 2013 11:10 AM CDT

The July corn contract has been stagnating recently, posting a new low of $6.10 as recently as last week. However, as Monday's session progresses the contract is posting an impressive rally of 35 cents for the day, 45 cents off last week's low, and putting itself in position to possibly close a price gap over the next few weeks.

The contract's weekly chart shows a low of $6.76 posted the week of March 25, 2013. The following week, the contract continued to freefall, posting a high of only $6.57 1/4. The area where no trade occurred ($6.76 to $6.57 1/4) ...

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