It's been more of the same this session on the back of 9 days of flat trade, Today's session so far looks to be heading in a similar way — the Corn future trades at $678 per bushel, after ending Friday at $678.25.
Corn's upper Bollinger Band® is at $686.68, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests CME Corn is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other Grains as Soybeans goes up 0.52% to trade around $1,541.5. Rough Rice climbs 0.33% to trade around $18.14.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index is expected tomorrow at 13:30 UTC. United States Core Consumer Prices is expected tomorrow at 13:30 UTC.
Trading mostly sideways for 2 months. After hitting an important low of $562.5 approximately 6 months ago, Corn has bounced back 20.58% since.