Corn Futures (ZC)

Corn Futures (ZC)

Update 05/07/2015

Well price on the corn futures smashed through the 20 day, 40 day and 20 week targets with ease. It seems the large cycle trough back in October is now exerting influence. I held for the 20 week target which was around 410 after witnessing this parabolic move. The 40 week target is up at 457 but I expect some kind of retrace for the 40 day cycle here at some point as the market takes a breath. I will look to get long again at that low or the next 80 day low. As I mentioned previously this could be the start of some long term commodity inflation across the grains. Here is the chart:

ZC 09-15_daily_05_07_2015

Update 09/06/2015

Price moved up as expected but before breaking the previous low mentioned as the 40 week. New phasing has the October low now phased as a 9 YEAR cycle low. The current bounce is phased as a 40 week. I am long on this 20 day FLD cross and holding after reassessment. Price has broken the blue 40 day VTL increasing my confidence this is a large cycle degree bounce.

ZC 09-15_daily_09_06_2015

Update 01/06/2015

Corn is potentially entering a trough of very large magnitude pretty soon. It will definitely be at least 18 month and by my phasing perhaps a 9 year cycle low. On these large troughs there is no rush to get in right at the bottom so it is well worth waiting for the first 40 day (or 20 day if feeling confident) to play out. Below is the long term chart in weekly bars and the latest daily view.

Only question mark I have on this daily phasing is the placement of the most recent 80 day cycle low, which has a couple of candidates in early April.  I expect the 40 week low back in October 2014 to be broken in the coming days. If it is not and price moves strongly up I will reassess the phasing. One to watch anyway, perhaps this is the start of some commodity inflation?

ZC 09-15_daily_01_06_20152 ZC 09-15_daily_01_06_2015

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