Corn

The corn market, like the rest of the grains, has been ripping higher lately.

Though it's too early to call a major bottom in this market, it has certainly put in a tradable bottom.

I show a primary degree [5] wave ending at the 302 L. This would also complete a cycle degree c wave. The alternate remains a very bearish view.

It's unclear if minor 3 has finished, but the structure does suggest that it is close.

Notice that we have hit some important levels. The 50% retracement of the move off the 473.20 H, as well as some key fibonacci relationships.

The 38.2% retracement of 3 sits at 365.20. Watch the base channel boundary line, as this often provides support for wave 4's.

If I have structure pegged correctly, we should see additional upside price action after a retracement process.