Tech Guy Corn 1 hour Intraday Chart 3/23/26

The May corn market recently failed near the price highs and started correcting downwards. For the time being, the price targets higher are off the table. Resistance is now 474.0 to 476.0, and support comes in at 456.50 (today's low), 449.0, then again at the 445.0 to 443.00 range. This is a pretty big trading range for the corn market. Therefore there is opportunity to both buy and sell for hedging or trading. There are also 5 blue lines on the chart which should function as support and resistance levels. Notice that today's low occurred at the upper down sloping trendline. Please study the May corn chart here.

Commercial Grain Companies:

In the grain trade, ABCD refers to ADM, Bunge, Cargill, and Louis Dreyfus Company. These four multinational companies control 90% of the global grain trade, plus a considerable portion of the food processing chain. Collectively known as the ABCD companies, they may not be as recognizable as the big four oil or tech names but approach them in their economic clout. Cargill is, by far, the largest grain company of the four and it is the largest privately held company in the U.S. and probably the world.

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