Corn is an interesting product. Normally associated with food, it has become a bit of an energy play for the ethanol component. Now that oil is rallying above $40, Corn (CORN) seems to be getting a bid. If you are interested in the commodities, there are lots of charts that are breaking out. Corn can be a leading indicator for agriculture as well.
With the SCTR above 75, the downtrend in price being broken, and the MACD above zero, the technical indicators are looking very supportive of this move. The higher highs and higher lows in the price trend, as well as a move above the 40 WMA, all give credence to a new trend.
Greg Schnell, CMT, MFTA