CORN: Watching for a push above 18 by month-end
Been looking at the $CORN charts and while we're stuck around 17.65 today, the underlying supply-demand narrative, especially with some weather concerns bubbling up for Q3, suggests a higher floor. I'm putting the odds at roughly 60% we see a sustained break and hold above 18.00 by the end of July. It's not a conviction play yet, but the recent lows look defended, and any renewed speculative interest on a weather headline could easily fuel that push. The range has been tighter than expected, but accumulation at these levels seems plausible before the next leg up, if it comes. Below 17.20 and I'd re-evaluate the bullish bias for sure.
Interesting take on CORN. Are you factoring in the potential for a larger than expected planted acreage report this week? Could that throw a wrench in the supply-demand narrative, even with the weather concerns?