CBOT corn neutral in $3.79-1/4 to $3.85-1/4 range

SINGAPORE: CBOT May corn looks neutral in a range of $3.79-1/4 to $3.85-1/4 per bushel, and an escape could suggest a direction.

The range is formed by the 38.2 percent and the 23.6 percent retracements on the uptrend from $3.53-3/4 to $3.95-1/4.

A break above $3.85-1/4 could lead to a gain to $3.89 while a break below $3.79-1/4 could cause a loss to $3.74-1/2.

Over the next few trading sessions, corn may be confined within a range of $3.74-1/2 to $3.89, as defined by two trendlines.

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