Corn futures kicked off the month of March on a bullish note, punching through the upper edge of its recent trading range to trigger a buy signal. The market had been trending lower to hold the traditional February Break tendency to drop to seasonal lows during that month. Autochartist identified this trending price action as a Channel Down chart pattern, with last week's rally completing the formation with a buy signal.

The first entry point for establishing long positions occurred with the successful retest of the Channel Down support near $6.48 per bushel. Buyers entered the market here and generated significant momentum as the price rose. This indicated a likely move to the upper resistance level near $6.55 per bushel, which would have capped the gains if the sideways to lower trend were still the dominant pattern.

The up-thrust in Friday's session violated the trend line and initiated a secondary buy signal on the breakout, confirming the rally now underway.

The projected price target generated by Autochartist suggests a continuation of the move to a minimum of $6.62 a bushel to complete the breakout. This may entrench the February sell-off as a seasonal low for the corn market, setting up for shorter term patterns to confirm further upside gains. A decline back into the channel would be needed to turn the chart back to neutral.

. For further information on this and other Autochartist products, visit our website at www.autochartist.com

DISCLAIMER: The Autochartist service includes chart pattern identification in respect of foreign currencies, commodities, equities and stocks. There are potential risks relating to investing and trading. You must be aware of such risks and familiarize yourself in regard to such risks and to seek independent advice relating thereto. You should not trade with money that you cannot afford to lose .The Autochartist service and its content should not be construed as a solicitation to invest and/or trade. You should seek independent advice in this regard. Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. Autochartist, MDIO Software, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the Autochartist service and its content. This e-mail may contain information that is confidential. If you are not the intended recipient, you must not distribute, copy, circulate or in any other way use or rely on the information contained within the entirety of this email. Please delete the e-mail and any attachments and notify us immediately.