Good afternoon!
Please note: CBOT markets will be closed on Monday, February 18 in observance of President’s Day. I will be taking some time away from the price charts Tuesday through Thursday, returning to the trade desk on Friday, February 22. There will be most likely be no video chart updates next week.
Well, here we go again!
Bulls showed their jitters as hopes for a China trade deal cooled off, following a more positive tone earlier this week. Good news for the corn and soybean bull camp is key support levels were tested and again held. SRW and HRW Wheat were not as fortunate, closing on a fresh contract lows despite seeing some better export demand this week.
National corn basis for corn and soybeans narrowed this week, while wheat widened.
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “Here We Go Again **Video Chart Analysis**” on 02/14/19.
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