Mixed sentiment sees the Corn future ending the day broadly flat; establishes tight $655.5 to $657.5 range

The Corn future trades at $656.75 per bushel, after ending yesterday at $657.75.

This uncertain state for the Corn future is reflected by published market data as United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5. United States ISM Manufacturing Employment (Mar) released yesterday at 14:00 UTC with a figure of 46.9, while the previous figure was 49.1. United States ISM Manufacturing Prices (Mar) came out at 49.2, while a consensus of analysts was expecting 51.2.

Corn's upper Bollinger Band® is at $666.7, suggesting that a downward move may follow.

Despite the market lacking direction, technical chart analysis strongly suggests Corn is positioned for a downward move in the near term.

Meanwhile, mixed performances are seen in other Grains as Rough Rice decreases 1.41% to trade around $17.1. Soybeans increases 1.86% to trade around $1,522.75.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories is projected to outperform its last figure with -1.8 million. It previously stood at -7.49 million; data will be released tomorrow at 14:30 UTC. United States ADP Nonfarm Employment Change (Mar) scheduled to come out tomorrow at 12:15 UTC. United States JOLTs Job Openings (Feb) is scheduled for today at 14:00 UTC.

11 months ago CME Corn reached a significant high of $818.25 but has consequently lost 19.62% since then.