After four days of going down, CME Corn is up $8.25 yesterday

Yesterday at a glance: the Corn future rose $8.25 to close at $597.25 per bushel yesterday which makes for a move of 1.4%.

Uptick comes while some more positive signs for CME Corn are out as United States Average Hourly Earnings came out at 0.5%, better than analyst estimates of 0.3% and improving upon the previous reading of 0.3%. United States Non Farm Payrolls beat the 180,000 projections, with 253,000. United States Unemployment Rate beat the 3.6 projections, with 3.4.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions.

Overall, looking at the technical analysis landscape, it seems the Corn future might continue pointing upwards in the short term.

A look at other Grains also shows upside as notably, Rough Rice rose 1.75% yesterday and closed at $17.98. Soybeans added 1.34% and closed around $1,417.75 yesterday. Oats went up by 2.51% yesterday, and closed at $327.

The commodity has been trending lower for about a month. Corn is now trading 12.06% below its 3-month high of $805.5.