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CHART VIEW – CBOT Corn Futures by Jeff Gilfillan

When I wrote the February newsletter front-month corn futures (March) was trading at 378 ¾ and the current front month (May) price as of today’s close on 03/26 is 377 ¼. In between, the board did selloff to our washout area around 3.55 (low 3.52 ½ on 03/11). Front-month futures chart prices popped as March rolled to May and basis stayed firm.

Nothing eye-popping on the charts going into Spring planting and EOM intentions report. In reaction to the recent washout, the charts maybe poised to washout some shorts to the upside. A move to 4.05 to 4.15 new crop and 3.85 to 3.90 front month would simply be a test of upper-value areas and still 5-10 cents below last Spring’s highs.

The longer front month trades on the upper range the better chance, we’ll see this washout develop. I’d like to see the market trade in the current range for 5+ days and any post report washout to close no more than a day under 370 front month.

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CME Group – CBOT (ZC) Corn Futures Continuation Daily

Chart: Track N’Trade


CME Group – CBOT (ZC) Corn Futures Continuation Daily

Chart: Track N’Trade


CME Group – CBOT (ZC) December 2019 Corn Futures Daily

Chart: Track N’Trade


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