Corn has hit our long term target of 425.25

Corn

March

Corn has now hit the long term target mentioned back on 10/19/23 in our Weekly Grain/Livestock Update.

10/19/23

The past week held above 493.00 and is approaching the 521.75 major Gann square.

Use 521.75 as the swing point for the week.

Below 521.75 the short term target is the 493.00 major Gann square. The long term target is 78.6% of the contract high and low at 425.25.

Any attempt to rally since 10/19/23 has either been stopped by a retracement, or major Gann square, or both as it moved down from one major Gann square to the next. The 425.25 level is a 78.6% retracement and a major gann square.