NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Jul 20, 2014 09:15 AM CDT

Corn: The DTN National Corn Index (NCI.X, national average cash price) closed at $3.51, down 9.00cts for the week. This is the lowest weekly close for the NCI.X since the week of July 26, 2010. National average basis (NCI.X - September futures) was calculated at 20cts under Friday evening, continuing to run below the 5-year average and 2 cents weaker for the week. The combination of weak national average basis while the futures market trades in the lower 17% of the 5-year price distribution range reflects a continued bearish old-crop supply and demand situation. Technically the NCI.X is nearing old ...

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