Tech Guy's Comments on the Corn Market 1/21/26

This is a short overview of what appears to be unfolding in corn, and specifically in March corn, and also a couple of charting (technical) tidbits. The continuation corn chart marked a low in August 2024, rallied into February of 2025, then marked a higher low in August of 2025, followed by a rally into Christmas 2025. Anytime a chart makes a higher low after an extensive selloff, the odds increase that the primary down move is complete.

Finally, Corn formed a head and shoulders top after Christmas and has since met the downside objective from it, which is also very close to the Fibonacci retracement point of 62%. Also, the rally into Christmas marked 5 Elliot waves (up and down legs. 5 waves is normally indicative of a bull move as opposed to a corrective move. Therefore the Head & Shoulders down move should be considered corrective. We don't know for sure, but considering all factors (H&S target, 62% correction), etc., the bulls are probably aiming for a rally which should exceed the December 2025 high, at least by a small amount.

Here are 2 corn charts so you can see what I have discussed above. The first one is an intraday chart (8 hour bars) displaying the Head & Shoulders top pattern, the Elliot count (5) for the latest rally and the subsequent 62% retrace level. The downside H&S target is the measurement from the top of the head down to the neckline. This number is then subtracted from the neckline to give you a downside target (you can measure roughly with your fingers and thumb on the chart). The Daily chart demonstrates the selloff terminating in August 2024, then the more recent higher low. The daily chart could be working on a larger upside down head & shoulders that projects an up move. We will have to see more trading to confirm this hypothesis.

8 Hour Corn

Daily Corn

Yields:

Since 1961, global grain yields have tripled, allowing food production to outpace population growth.

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