The Corn future is rallying again to $662.75 per bushel (up $6), after erasing earlier gains.
United States Building Permits is next today at 13:00 UTC.
Meanwhile, United States API Weekly Crude Oil Stock came out at -4.8 million, while a consensus of analysts was expecting -2.2 million. United States 7-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.89, while the previous figure was 4.027.
Corn's lower Bollinger Band® is at $648.6, indicating that the market is oversold and fertile for new buyers. In contrast, the Corn future could be slowing down soon as it approaches resistance at $665.42. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Corn might continue pointing upwards in the short term.
This rally in Corn's price coincides with other Grains as having closed the previous session at $1,429.75, Soybeans is up 0.58% today to currently trade at around $1,438.
Meanwhile, after ending yesterday's session at $17.95, Rough Rice lost 7 cents and is trading around $17.88. Oats closed at $396.5 (down 0.81%).
Moreover, macro data could boost sentiment further as United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.5%; data will be released today at 13:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1 million, having previously been at -5.4 million. The figure will be published today at 15:30 UTC.
Furthermore, the market is looking at United States New Home Sales (Oct) is scheduled for today at 15:00 UTC.
The Corn future is now trading 19.74% below the significant high of $818.25 it set around 6 months ago.