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June 29, 2023While on a 7 day downtrend, dropping a total of 16.08%, Similar trend today: slightly weaker but mostly flat: CME Corn is currently trading at $528.25 per bushel as it maintains an active range between $526.25 and $543.25.
United States's Pending Home Sales new data released of -2.7% below its previous figure.
Highly important Pending Home Sales data from United States beat analyst expectations of -0.5% with a reading of -2.7%.
On the flip side, data for United States GDP released today at 12:30 UTC is better than expected with two, but worse than previous figure of 2.6. United States Initial Jobless Claims came out at 239,000, better than analyst estimates of 266,000 and improving upon the previous reading of 265,000.
Following today's trading session, chart analysis suggests after reaching the $527 support zone, Corn bounced and climbed $1.25 above it.
In the meantime, negative performances are also seen in other Grains as Oats is down to $402, losing $6.75, after closing at $408.75 in the preceding trading session. Rough Rice is trading around $14.96 (down 7 cents).
Furthermore, United States Core PCE Price Index (MoM) (May) is scheduled for tomorrow at 12:30 UTC.
CME Corn is now trading 17.23% below its 3-month high of $700.
