Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Nov 30, 2014 03:54 PM CST

Corn (Futures): The December contract closed at $3.88 3/4, 12cts higher for the month. The major (long-term) trend remains up. Initial resistance is pegged at $4.43 1/2, the 23.6% retracement level of the previous downtrend from $8.49 (high from August 2012) through the October 2014 low of $3.18 1/4. Monthly stochastics are growing more bullish indicating the market could continue to extend its rally.

Corn (Cash): The DTN National Corn Index (NCI.X, national average cash price) closed at $3.48, up 12 cents for the month. The trend of the market has turned up, putting the long-term price target near $4.90. ...

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