Recommendation for corn: Sell

Sell Stop: Below 514.

Stop Loss: Above 557.3 .

Indicator Signal
RSI Neutral
MACD    Sell
Donchian Channel Neutral
MA(200) Sell
Fractals Neutral
Parabolic SAR Sell

 

Chart analysis

Corn

The #C-CORN technical analysis of the price chart in daily timeframe shows #C-CORN,D1 is retracing up toward the 200-day moving average MA(200), which is rising itself. We believe the bearish momentum will continue as the price breaches below the lower Donchian boundary at 514. A pending order to sell can be placed below that level. The stop loss can be placed above 557.3. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental analysis

Traders expect China’s US corn purchases will miss forecasts while its domestic crop is expected to rise. Will the CORN price continue retreating?

Analysts are concerned China’s US corn purchases in 2021-22 may come up short of forecasts in light of China’s absence as a buyer since mid-May and its canceling of roughly 26 million bushels (mbu) of 2020-21 purchases in recent weeks. So far unshipped sales heading into the 2021-22 crop year are on order in the amount of 480 mbu. Additionally, the 2021-22 China’s domestic production is currently estimated to be up 7.3 million ton (MT), while the increase in corn use is projected at 5 MT. Expectations of lower Chinese corn imports and higher domestic supply are bearish for corn price. Reports that Russia and Ukraine corn crop is projected 11 MT higher this year with over 90% of that increase headed for the export market add to downside risks for #C-CORN.


Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.

This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD stabilizes above 1.1350 on Easter Friday

EUR/USD stabilizes above 1.1350 on Easter Friday

EUR/USD enters a consolidation phase above 1.1350 on Friday as the trading action remains subdued, with major markets remaining closed in observance of the Easter Holiday. On Thursday, the European Central Bank (ECB) announced it cut key rates by 25 bps, as expected.

EUR/USD News
GBP/USD fluctuates below 1.3300, looks to post weekly gains

GBP/USD fluctuates below 1.3300, looks to post weekly gains

After setting a new multi-month high near 1.3300 earlier in the week, GBP/USD trades in a narrow band at around 1.32700 on Friday and remains on track to end the week in positive territory. Markets turn quiet on Friday as trading conditions thin out on Easter Holiday.

GBP/USD News
Gold ends week with impressive gains above $3,300

Gold ends week with impressive gains above $3,300

Gold retreated slightly from the all-time high it touched at $3,357 early Thursday but still gained more than 2% for the week after settling at $3,327. The uncertainty surrounding US-China trade relations caused markets to adopt a cautious stance, boosting safe-haven demand for Gold.

Gold News
How SEC-Ripple case and ETF prospects could shape XRP’s future

How SEC-Ripple case and ETF prospects could shape XRP’s future

Ripple consolidated above the pivotal $2.00 level while trading at $2.05 at the time of writing on Friday, reflecting neutral sentiment across the crypto market. 

Read more
Future-proofing portfolios: A playbook for tariff and recession risks

Future-proofing portfolios: A playbook for tariff and recession risks

It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth. 

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Majors

Cryptocurrencies

Signatures

Best Brokers of 2025