NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat May 3, 2014 09:02 AM CDT

A quick look at the weekly chart for July corn and nothing glaring seems to have changed. However, upon closer study the contract may not be indicating that its secondary (intermediate-term) trend has turned from sideways to down. Activity early this next week could tell the tale.

First and foremost, let's go into what the contract did not do: July corn did not establish a bearish reversal on its weekly chart like the July soybean contract did. After trading above the previous week's high of $5.16 3/4, it did not fall below the low of $4.90 3/4 before closing lower. ...

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