Are the sellers finally scraping the bottom in the corn market? In a different environment where funds were not already record short, today’s report could have easily sent the market lower, as analysts again underestimated US and World Ending Stocks. So what does the price action after the data release today tell us and what are the next hurdles to clear? We’re talking about that in today’s video as well as:
- The carry and long term resistance in 2020 contracts;
- The May/July corn spread, when to roll?
- Several resistance areas in Soybeans, trend line support in Meal;
- Technically neutral/mildly bearish outlook for Winter Wheat, Spring Wheat oversold;
- Well defined bull trend in Cotton;
- Trend line and 50 day moving average support in June Cattle, weather concerns ahead;
- Hedging opportunity in May Class III Milk
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “Corn Closes Higher on Bearish Report **VIDEO Chart Analysis**” at 04/09/19 03:37:11 PM Central Daylight Time.
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