Corn CME held support at 473/472 exactly as predicted and ran in to our resistance at 484. We topped almost exactly here as expected and now need to watch the 479/480 level. The outlook remains negative so we could move below here and target 475/473 again. A break lower is far more likely today but meets good support at 469/468. A low for the day is expected if seen, but longs need stops below 465. Next downside target and support is then 459/458. Just be aware that a close below 477 tonight is negative for the rest of the week.
Immediate resistance at 484/485 could hold a move higher again today. However an unexpected break higher targets strong resistance at 487/488 and if we reach as far as 491 use this as a selling opportunity today.