March corn prices are surging upward. Here’s one trade you could consider now.

March Corn Futures: Signs Pointing to a Bullish Opportunity

March corn futures (ZCH26) are showing renewed potential for buyers as prices continue to strengthen.

Examining the daily chart for March corn, it’s clear that the market has bounced back sharply from a key support level, giving bulls a fresh technical edge. Historical trends also indicate that this period of the year tends to favor upward movement in corn futures.

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On the fundamental side, robust U.S. export sales and steady domestic demand have been lending support to corn futures prices in recent months.

If March corn futures manage to break above the resistance level at $4.48, it could further empower the bulls and signal a buying opportunity. The next target for prices would be $4.75 or higher. For risk management, technical support is identified at this week’s low of $4.36 ¼, which could serve as a level for a protective stop.

Source: www.barchart.com