March Corn Recovering

The march corn chart (4 hour period) below high lights the price drop we saw on Monday and subsequent recovery we have seen since. That drop ruined my idea from last week that 350 was near term support. Near term support now drops to 346. I'm sure the market is nervous about what Friday’s USDA report has in store. For the near term, producers needing Jan Feb Mar cash flow and are nervous about Friday’s report should sell something. Below 346, the downside risk is to 310.