Below is a daily chart portraying the price action for MAY 16corn (ZCK2016 contract) traded in Chicago.  The price of corn regained nearly half of the losses seen after the previous plantings report release on March 31st.  The price climbed, nearly 14cents off the report lows, in three consecutives movements, on each occasion establishing support before moving higher, as shown by the green upward arrows in the 4hour candle stick chart below.  Traders eagerly await information from the 1^st crop progress report, which is delayed until next week and Monday, for U.S. corn planting progress.  The May contract currently sits around $3.61 with nearby support at $3.57 and further resistance at $3.67…