CBOT Corn Breaks Through Initial Resistance; Brazilian Market Paces Recovery: CBOT corn ended sharply higher as May traded easily through its 20-day moving average and as Brazilian forecasts into Mar 22 trend drier. Resistance lies between $4.50-4.80, basis May, and until Brazilian weather is known in late Mar/early April, resistance is forecast to remain in…
CBOT Corn Ends Higher; Domestic Demand Strong; Brazilian Crop Threat Looming: CBOT corn recovered on Wednesday amid confirmation of robust ethanol disappearance and rising crude/energy markets. May CBOT still must trade decisively above its 20-day moving average ($4.31) to open additional upside risk, but ARC’s research maintains downside is limited at $4.15-4.20. Choppiness prevails into…
Global Corn Market Ends Mixed; CBOT Fails at Chart Resistance: May CBOT corn was unable to trade through initial resistance at $4.33 and a modest correction followed. Breaking news was absent, but a host of resistance levels lie above the market – and choppy trading is forecast into the release of USDA’s March WASDE on…
Corn Market Rallies China demand talk and N Brazilian rainfall Worry. Short covering resumed to start the week as input becomes more two-sided. Ukrainian corn is cheap, but planting will be challenged as farm labor is lost to war. Bearish sentiment is being is being pared amid worrisome weather in N Brazil into mid-March and…
CBOT Corn Recovery Pauses at Chart Resistance: May CBOT corn’s 20-day moving average has provided resistance since November and the market’s failure to trade above this overnight allowed selling to resume. A close above $4.34 May corn is needed to trigger the next stage of the market’s recovery. ARC’s work maintains seasonal lows were scored…
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