CME Corn trades at $617.25 per bushel, after ending Friday at $615.25.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, the Corn future's upper Bollinger Band® is at $664 and the lower is $610.41.
Overall, technical indicators suggest CME Corn has no obvious direction for the immediate future.
Meanwhile, mixed performances are seen in other Grains as having closed the previous session at $17.12, Rough Rice is up 0.47% today to currently trade at around $17.2.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Building Permits scheduled to come out tomorrow at 13:30 UTC. United States New Home Sales (Mar) will be released tomorrow at 14:00 UTC. Tomorrow at 14:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 104 from the preceding figure of 104.2.
CME Corn is now trading 7.83% below its 3-month high of $818.25.