Corn looks poised to grind higher towards 745/750 – SocGen

Corn has extended its up move after breaking above the peak of last year at 640. Strategists at Société Générale expect corn prices to reach the 745/50 area.

Initial support aligns at 675/668

“Daily MACD is firmly anchored within positive territory which denotes upside momentum is persistent.” 

“Corn looks poised to head towards next projections at 735 and 745/750. This could act as interim resistance however a large downside is not envisaged.”

“Daily Tenkan line at 675/668 is first support near-term.”