May corn futures a buying opportunity on more price strength.
See on the daily bar chart for May corn futures that prices are in a two-month-old uptrend, have just hit a six-month high, and the bulls have momentum and the near-term technical advantage. A move above $5.00 would become another buying opportunity. The upside price objective would be $5.30, or above. Technical support, for which to place a protective sell stop just below, is located at $4.85. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
