Nearby wheat contracts have posted three days of strong gains vs. deferred months. With USDA scheduled to release a big trove of data on Friday, is there some kind of message to read in this price action? We’ll take a closer look in today’s video, as well as:
- Soybeans lackluster performance last five sessions despite supportive China headlines, near seven month highs;
- Corn’s six cent range since Jan 18, bullish possibilities in Friday’s report data?
- June Cattle reversal candlestick near term top? Watching the long term trend line support drawn off May lows for a clue on if/when the market could be breaking;
- Outside markets: USD neutral, crude oil/DOW strong
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “What are Wheat Spreads Telling Us? **VIDEO**” on 02/05/19.
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