Will the decline in the price of corn stop?


Maize recommendation: sell

Stop sale: Below 537.5

Stop the loss: Above 622.9

RSI: Neutral

MACD: To sell

Donchian Canal: To sell

MA (200): Buy

Fractals: Neutral

Parabolic SAR: To sell

Graphical analysis

the # C-MAS technical analysis of price chart in daily calendar shows # C-MAS, Daily falls above the 200 period MA moving average (200), which continues to rise. We believe the bearish momentum will continue as price crosses Donchian’s lower bound at 537.5. A pending sell order can be placed below this level. The stop loss can be placed above 622.9. After placing the order, the stop loss should be moved each day to the next fractal high, following the parabolic signals. Thus, we change the expected profit / loss ratio at a standstill. If the price reaches the stop loss level without reaching the order, we recommend that you cancel the order: the market has undergone internal changes that have not been taken into account.

Fundamental analysis

USDA has lowered the nationwide corn crop condition assessment for 2021 corn. Will the MAS price decline stop? The US Department of Agriculture released its latest crop condition report on Monday, indicating that the quality of the nationwide corn crop continues to deteriorate. The USDA Weekly Report showed that 65% of the nationwide corn crop is rated good to excellent, up from 68% last week. This also compares to the same time last year when 72% of the crop was in good to excellent shape. It also showed that 6% of the nationwide crop is in poor to very poor condition, with conditions in major corn-producing states declining, as growing conditions in Iowa fell by 7 points. Conditions also deteriorated in Illinois, Indiana, the Minnesota Dakotas and Ohio. Expectations of lower supply are bullish for the price of corn. However, the technical setup is bearish for # C-CORN.

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