After six days of going down, CME Corn is flat today, hovering around $607

The Corn future trades at $607 per bushel, after ending yesterday at $607.5.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that the Corn future's upper Bollinger Band® is at $661.53 and the lower is $603.27.

The current technical outlook indicates Corn will continue to ebb sideways within tight ranges for the immediate future.

Meanwhile, mixed performances are seen in other Grains as after ending yesterday's session at $17.3, Rough Rice lost 6 cents and is trading around $17.25.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was -0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million, having previously been at -4.58 million. The figure will be published tomorrow at 14:30 UTC. United States Building Permits is scheduled for today at 13:30 UTC.

CME Corn is now trading 10.27% below its 3-month high of $818.25.