Tech Guy Daily Corn Chart 4/26/26

The daily corn continuation chart will roll over to the July contract tonight, and it is priced about 8.50 cents higher than the May contract which closed Friday at 455.0. It appears that corn is marking the 3rd up leg of a bigger 3rd up leg - this is Elliot wave analysis. Elliot waves are constructed of small waves making up larger waves. Think of a microscope or telescope that portrays smaller or larger visual pictures. The last high to the left was priced at 505.25 - this should be the target of the next completed Elliot wave mark. Please study the Elliot wave counts with the labeled numbers on the daily corn chart below. Friday's close in the July contract was 463.50, therefore I expect a pullback to about 457.50 tonight. However, if strength suddenly appears, we could see a small continuation gap occur. Below the chart is a link explaining Elliot wave theory.

https://analystprep.com/cfa-level-1-exam/quantitative-methods/elliott-wave-theory/?gad_source=1&gad_campaignid=20404043257&gbraid=0AAAAADaap8Y2evQaL8PnqW1tB9UoRn0-H&gclid=Cj0KCQjw77bPBhC_ARIsAGAjjV_w6PfOyBHyQh9naL8wOlWAzWt4QUBQIFm9GKNrJR2430jjSn8o7FQaAqJeEALw_wcB

Monthly Ag Reports:

The World Agricultural Supply and Demand Estimates (WASDE) board was formed in 1973 as a joint effort of the National Weather Service, World Agricultural Outlook Board (WAOB) and the USDA because of the Great Grain Robbery of 1972. The CIA was tasked with collecting crop information on countries around the world and reporting that information to the World Agricultural Outlook Board.

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