Corn Selling OffCorn has had a nice run up from the December 7th lows and made a push against trendline resistance from the June highs of this year. If you zoom out on the chart, there is some nice trendline support as well going back to the July lows. As we tested the overhead resistance, the market sold off and is now testing the 200-day moving average. There is a seasonal coming up, where if you buy the May corn contract on 1/13 and hold it through 2/6, it has gone higher 13/15 years. This does not guarantee it will be successful this year, but it does give strong historical context on how the market has traded, and as we are testing strong technical points in this wedge there could be great volatility.
