The Grain Market Yo-Yo Continues Into the Weekend | Grain Express | 6/2/2023 |

Posted: June 2, 2023, 7:29 a.m.

Corn

Technicals (July)

July corn futures ran up to through $6 and tagged our next resistance pocket, 606-608 in yesterday's trade. That pocket has proved to be a big barrier recently. If the Bulls can chew through that pocket, it could provide another leg higher on technical buying alone. However, yesterday's rejection and reversal has put that on hold. In the early morning trade, July futures are down about a dime, back below our pivot pocket 586-588. A failure to defend this level into the weekend could take prices back to 569-572. We continue to believe that the market will continue to chop around, presenting some great short-term opportunities for both the Bulls and the Bears.

Bias: Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 595-601***, 606-608***, 615 3/4**

Pivot: 586-588

Support: 569-572***

Soybeans

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Wheat

Seasonal Trend in Play

None

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The Grain Market Yo-Yo Continues Into the Weekend | Grain Express | 6/2/2023 |

Posted: June 2, 2023, 7:29 a.m.

Corn

Soybeans

Wheat

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