Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Dec 14, 2014 11:05 AM CST

Corn (Cash): The DTN National Corn Index (NCI.X, national average cash price) closed at $3.72, up 12 cents for the week. Despite weekly stochastics showing the cash market in an overbought situation, the secondary (intermediate-term) trend remains up. The NCIX closed at its weekly high, with the next target $3.84. This price marks the 50% retracement level of the previous secondary downtrend from $4.86 through the low of $2.81. The commercial side of the market continues to grow more bullish with national average basis holding steady at 35 cents under last week while the nearby March to May futures spread ...

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