Good afternoon and Happy New Year!
Cold weather across the US has woken the winter wheat bulls while hot and dry conditions in Argentina look to return to the headlines again at least for the next 10 days. I don’t know how the weather forecasts will change going forward but I do notice a few things that have changed from a technical perspective since our last video:
- Wheat managed to close above its descending bear trend line and 50 day moving average for the first time since July
- Soybeans are near oversold
- Corn is testing but has not yet broken its key level 355’2 (March)
- The US Dollar is at its lowest value since September, supporting exports
Have a great day!
This is a sample entry from Tom Dosdall’s newsletter, Technical Ag Knowledge, published on Tuesday, January 2, 2018.
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