Corn To Average USc370/bushel In 2010

Front-month (September) corn is testing resistance in the USc378/bushel area and could be due a breather. In recent days, the contract has bounced strongly off multi-year support we have previously highlighted around USc320/bushel. However, the upcoming release of world supply and demand (WASDE) data on Friday 9th of July from the USDA could be important in determining short-term direction. Further bullish news for corn could see prices push up towards longer-term resistance around USc412/bushel.

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