NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun May 24, 2015 07:29 AM CDT

Corn (Cash): The DTN National Corn Index (NCI.X, national average cash price) closed at $3.42, down 5 cents for the week. The secondary (intermediate-term) trend is sideways-to-down with the NCI.X closing at initial support of $3.42. This price marks the 38.2% retracement level of the previous uptrend from $2.81 through the high of $3.80. Weekly stochastics show cash corn to be oversold, setting the stage for a potential bullish crossover in the coming weeks.

Corn (Old-crop): The July contract closed 5.50cts lower at $3.60 last week. July corn continues to hold trendline support, calculated this week at $3.56 1/2. This ...

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