NEWS
Darin Newsom DTN Senior Analyst
Sat Aug 29, 2015 08:52 AM CDT

Weekly Analysis: Grain Markets

Corn (Cash): The DTN National Corn Index (NCI.X, national average cash price) closed at $3.41, unchanged for the week. The secondary (intermediate-term) trend remains sideways with the NCI.X continuing to hold above major (long-term) support at $3.31. The minor (short-term) daily chart shows the NCI.X is in Wave 2 of a 5-wave uptrend with pegged at $3.38. This price marks the 61.8% retracement level of the Wave 1 rally from $3.32 through the high of $3.47.

Corn (Dec futures): The December contract closed 2.25cts lower at $3.75. While the secondary (intermediate-term) trend remains sideways, Dec corn ...

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