SINGAPORE: CBOT corn may fall to $6.18-1/4 per bushel, driven by a wave C.
This wave has travelled below its 138.2% projection level of $6.38. It is unfolding towards the 161.8% level of $6.18-1/4.
As a general guidance, the support at $6.18-1/4 may hold and probably trigger a bounce.
CBOT corn may fall towards $6.52 before rising in Q3
A break above $6.38 could lead to a gain to $6.50-1/4 to $6.57-3/4 range.