Corn futures in the March contract settled last Friday in Chicago at 3.67 while currently trading at 3.67 unchanged for the trading week experiencing extremely low volatility and I don’t think that will continue much longer as spring planting is right around the corner.

I have been recommending 2 bullish positions with an average price of 3.58 & if you took those trades the stop-loss stands at 3.61, however in Monday’s trade will be raised to 3.64 as the chart structure is outstanding at the present time.

The next major level of resistance which was touched earlier in the week at the 3.70 level and if that is broken on a closing basis I will be looking at recommending another position to the upside as the risk/reward are in your favor in my opinion.

Estimations of the 2018 planted acres are around 90 million which could produce a crop of 14.3 billion bushels which is right near the 2017 levels which is an excellent crop once again as we keep over planting in the United States in my opinion as that has been the main culprit for depressed prices over recent years as its a long growing season as we have not experienced a drought since 2012 as we are overdue for a poor crop.

All of the bad fundamental news has been reflected in corn in my opinion as I think higher prices are coming as I am also advising farmers not to sell their cash crop at this time as I think they will receive a better price come summertime so stay long & continue to place the proper stop loss as the grain market remains bullish.