Corn Price Bias Is Still Bearish

The #C-CORN price forecast in our March 3, 2020 technical analysis was bearish.

Market developments after #C-CORN,Daily March 3, 2020 technical analysis still indicate bearish bias.

• Falling live cattle prices weigh on corn - a major feedstock for raising cattle, on concern fears over COVID-19 could create shutdowns in the US meatpacking industry.
• Corn price fell 1.5% to close at 332.7 on March 3, 2020.

Here is what indicators show as of April 6, 2020:

• The Parabolic Indicator gives a bearish signal.
• The Donchian channel indicates downtrend: it is widening down.
• The MACD indicator gives a bearish signal.
• The RSI oscillator gives a neutral signal.
• The Fractals give bearish signal.
• The MA(200) Indicator gives a bearish signal.

So the bearish forecast still stands for the #C-CORN,Daily.

Bloomberg.