Bullish the Corn future runs out of steam at $606.75; currently at $605 per bushel

Corn rallies $14.25 (2.41%) deep into the session, trading at $605 per bushel.

Nevertheless, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

Rallies can also be seen in other Grains, Rough Rice is up 2.86%. Having closed the previous session at $336, Oats is up 2% today to currently trade at around $342.75. Soybeans increases 0.93% to trade around $1,336.25.

After hitting an important low of $554 approximately 5 days ago, CME Corn has bounced back 6.63% since.