Corn Continuation Chart 5/17/26

We are continuing to discuss the Elliot structure/count in Corn. The overall structure argues in favor of a new uptrend beginning as opposed to an A-B-C up correction in a down trending market. As you know smaller waves exist within larger waves.

Normally the big 4 correction finds support near the top of # 1 impulse up. Friday, July corn marked it's low just 2 cents shy of the # 1 high point. Therefore, good buying support should be near 453.0

You will see the counting on the daily corn chart. At least 1 more up impulse is indicated to occur (#5), with targets at 509.0, and then between 524.0 - 530.0

Corn:

At 1.2 billion tons, maize (corn) is the world’s second largest agricultural product and one of the most versatile crops, used for food, feed, and industrial applications. The U.S. dominates maize production, contributing 40% of the global total, followed by China and Brazil.

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