🌽 Testing Support (GrainStats)

GrainStats Updated   
CBOT:ZCZ2023   Corn Futures (Dec 2023)
Latest Fundamental DataπŸ‘‡

Corn Harvest Progress 🚜➑️🌽

β–“β–“β–“β–“β–“β–“β–“β–“β–“β–“β–“β–“β–‘β–‘β–‘ 81%

Export Inspections 🚒➑️🌎

535,191 Metric Tons
⬇️ 5,594 Metric Tons week vs. last week
⬆️ 89,498 Metric Tons this week vs. this week last year
⬇️ 160,191 Metric Tons this week vs. 5-year average

Corn Technicals πŸ’Ή

We will keep this post short and sweet, but after today's close (November 7th), there is downside risk forming at the previously established support of 4.675. A break below this level AND settlement could lead us to test the next support range of 4.6325 - 4.615, which would be the lowest prices of Corn since this past summer (when looking at the continuous contract).

Watch the following levels for nowπŸ‘‡
🟒 Current Upside Target: 4.85, 4.90
πŸ”΄ Current Downside Targets: 4.6325 - 4.615

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just now
Caution is advised as the market has successfully retraced back to support.
Targets are being met βœ…


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