Wesley Chapel, Florida, June 09, 2008  -- July corn futures at the Chicago Board of Trade have made a bullish upside "breakout" from a six-week-old sideways trading range and point to higher price levels. Prices have already set an all-time record high and are closing in on $7.00 a bushel.

Of course, it is June and it is time for weather markets that usually do occur in corn and soybean futures during June, July and August. In fact, corn and soybean futures are already rallying on weather conditions that are too wet in the U.S. Corn Belt. The record high prices the past few months in corn and soybean futures means volatility this summer is likely to be even higher than the normal higher volatility that occurs during a weather scare in the U.S. Corn Belt.

Given the even higher price volatility that can be expected in corn and soybean futures prices this summer, purchasing out-of-the-money call options is the way to go for the more conservative traders. "However, with the recent record high corn and soybean prices and the accompanying increase in price volatility, the premiums on the options are going to be substantially higher," said Jim Wyckoff analyst for www.TradingEducation.com.

With weather woes in 2008 following up on the surge in demand for corn in the last year to produce ethanol in light of record energy prices, I have little doubt that corn futures prices will make larger moves to the upside in the next three months, and very possibly much larger moves. There is also likely more upside price pressure to come in the very near term for corn, despite the recent strong gains.

By using VantagePoint Intermarket Analysis Software (www.TraderTech.com), a trader can glean very early clues on potential near-term price trend changes or continuation of present trends. These near-term clues provided by VantagePoint can give a trader a key edge.

 
 Chart Provided by VantagePoint Trading Software (www.TraderTech.com)

Note on the VantagePoint daily bar chart for July corn futures that the predicted 4-day EMA line moved above the actual 10-day SMA close line a week ago when prices were still in the $6.00 area. That's a bullish clue. Also, both lines are trending higher on the daily chart, which is also bullish. This suggests July corn prices will continue in a price uptrend for at least the near term, assisted by the huge jump in crude oil prices last week.

VantagePoint's Predicted Neural Index has also moved to 1.00, also a short-term bullish indicator. The Predicted Neural Index (PIndex), a proprietary indicator, predicts whether or not a three-day simple moving average of the typical price will be higher or lower two days in the future than it is today. The Predicted Neural Index compares two three-day moving averages to one another - today's actual three-day moving average with a predicted three-day moving average derived from intermarket analysis data.

When the predicted simple three-day moving average value of typical prices is greater than today's actual three-day moving average value, the Predicted Neural Index is "1.00," indicating that the market is expected to move higher over the next two days. That type of information can be very helpful for shorter-term traders establishing shorter-term positions in markets.

The Predicted Neural Index is either correct or incorrect so its performance can be measured in terms of percent correct to produce the accuracy statistics cited for VantagePoint, which has a predictive accuracy rate of around 80% across a wide range of markets and time spans in ongoing research.

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About Market Technologies, LLC
Headquartered in Tampa Bay since its founding in 1979 by Louis B. Mendelsohn, with trading software customers in over 90 countries worldwide, Market Technologies is a fast growing, Inc. 500, company and recognized world leader in market forecasting. Market Technologies researches and develops proprietary trend forecasting and market timing technologies that utilize artificial intelligence applied to intermarket and hurricaneomic analysis, in order to forecast various commodity and financial markets throughout the world. These presently include, but are not limited to, stocks, stock indexes, ETFs, energies, interest rates, currencies, metals, grains, meats, softs and Forex, covering over 600 world markets. (www.tradertech.com)

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