The major (long-term) trend of the cmdty National Corn Price Index (NCPI, weighted national average cash price) remains down, a move that began with a bearish spike reversal this past May that confirmed a bearish crossover by monthly stochastics above the overbought level of 80% from the end of January. However, since late October the NCPI has been in a secondary (intermediate-term) uptrend, a move that looks to be Wave B (second wave) of the major 3-wave downtrend pattern, with an upside target between $5.87 and $6.18. After Wave B peaks, Wave C (third wave) would be expected to take out the Wave A low of $4.86, with a downside target near $4.55. Seasonally the NCPI tends to post a secondary uptrend through the first weekly close of June.