The $3.45 area is already a resistance level as we noted on 7/26/09. If the market holds this level, the next area of major resistance is $3.59 to $3.66. Beyond that is major resistance at $3.74 to $3.89.
On the downside, support can be seen at $3.44 to $3.40. A major level of support is $3.35 to $3.32.
If exports continue strong and crop production falls below expectations, we could see corn above $4 in the near future.