01 Oct

CORN Analysis: Lower US supplies bullish for corn price

October 1, 2020

Lower US supplies bullish for corn price

US Department of Agriculture quarterly report showed corn stockpiles dropped by 3.02 billion bushels during the three months ended September 1. Corn stocks totaled 1.99 billion bushels as of September 1. They were forecast at 2.25 billion bushels, 13.1% higher than the supplies available, according to Reuters. Corn futures rallied over 4% yesterday after the USDA report. Lower supply of corn is bullish for corn prices.

Indicator	VALUE	Signal
RSI		Neutral
MACD		Buy
Donchian Channel		Neutral
MA(200)		Buy
Fractals		Buy
Parabolic SAR		Buy

Summary of technical analysis

Order	Buy
Buy stop	Above 385.4
Stop loss	Below 363.4

Market Analysis provided by IFCMarkets.com

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CORN Analysis: Lower US supplies bullish for corn price

Lower US supplies bullish for corn price

Summary of technical analysis