USDA shows large new crop numbers. May 12, 2023

December Corn Chart: This market remains in a long term downtrend. It broke through the minor 512 1/4 to 512 1/2 lows posted in recent days with ease. The day's trade, a new low and new lowest-close of this downtrend, was clearly bearish. If/when the market is ready to change there are two upside intra-day gaps, the 5/10 close of 520 3/4 and the 5/8 close of 596 1/2. The discussion of a "potential" Double Bottom noted in prior days is now off the board.

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Allendale, Inc.
4506 Prime Parkway McHenry, IL 60050

1.800.2MARKET | 1.800.551.4626
Local: 815.578.6150 | Fax: 815.363.5511

service@allendale-inc.com

©2019 Allendale, Inc.
This communication is intended as a solicitation for business in the U.S. Please see our full disclaimer.
Site designed and developed by Turnkey Digital.