Friday's breakout to the downside hints at a move lower from here, as the length of the pattern has made it a formidable support level on the chart. The breach of the $6.70 price came on strong momentum, with strong follow-through selling and only a modest bounce at the close.

The forecast projects a lower price range between $6.56 and $6.44 per bushel, a move which could unfold during Monday's session. This move lower would measure as a definitive new leg lower in the ongoing correction for the corn market, and may encourage heavy selling in the face of harvest pressure as the growing season comes to completion.

A reversal in price to begin the week, which could occur on bullish weather forecasts, would have to move the price back into the Channel Up chart pattern with a close above $6.75 to negate this bearish pattern and resume the neutral trend.

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