Corn for December managed to hold support at 543 & we have stabilised above 549 as we look to close the gap up to 553/554. The outlook for the rest of the week is quite negative still so this could be a selling opportunity here today. However a push above 555 could allow further gains towards 560/561. Exit longs & try shorts here with stops above 564.
Below 548 is more negative for today’s session & should target support at 543/542 once again. A break lower through 541 cannot be ruled out and could target very good support at 536/535. We should look oversold short term here so exit shorts & try longs with stops below 532.