USDA shows large new crop numbers. May 12, 2023
December Corn Chart: This market remains in a long term downtrend. It broke through the minor 512 1/4 to 512 1/2 lows posted in recent days with ease. The day's trade, a new low and new lowest-close of this downtrend, was clearly bearish. If/when the market is ready to change there are two upside intra-day gaps, the 5/10 close of 520 3/4 and the 5/8 close of 596 1/2. The discussion of a "potential" Double Bottom noted in prior days is now off the board.
Please login to your premium subscription to view this content in its entirety.
Post Archives
Allendale Insider
Allendale Insider
On The Go
-
Will fed cattle futures make it a third week of better trade?
May 31, 2023
-
Debt-limit concerns now have a new opponent, June weather
May 31, 2023
-
Debt-limit concerns now have a new opponent, June weather.
May 31, 2023
-
First Crop Rating Of The Year Just Below Expectations
May 30, 2023
-
Funds near record hog futures lows last Tuesday. Likely at new lows currently.
May 30, 2023
On The Go
May 31, 2023
May 31, 2023
May 31, 2023
May 30, 2023
May 30, 2023
Market Movers
-
Overnight Trade Puts Beans and Wheat in the Middle of Last Week’s Trade
June 1, 2023
-
Macro Selling Seen, Rain Coverage Increases
May 31, 2023
-
Weather Maps Add Rain, Funds Not Short Covering
May 30, 2023
-
End Of The Week, Holiday Short Covering
May 26, 2023
-
Strong Planting Expectations and Poor Exports Expected
May 25, 2023
Market Movers
June 1, 2023
May 31, 2023
May 30, 2023
May 26, 2023
May 25, 2023
Snapshots
Snapshots