WEATHER MARKETS HAVE BEGUN
We are entering the weather market
What to expect in next week’s WASDE report
Expect volatility to increase
Will more weather premium be built in
Listen to today’s audio below
CHARTS
Corn 🌽
To start the week we found resistance right at that $6.60 level and our long term moving averages. Next level of support is $6.37. Bulls would like to see a reversal and close above that $6.60 range.
Beans 🌱
On our rally we went and broke out of our short term downtrend from February. On today’s weakness we went and tested support there. Bulls would like to find support there around the $14.79 level and stay above that line.
Chicago Wheat 🌾
Wheat continues to chop around, struggling to break out of our downtrend. Let’s see if this inverted head and shoulders develops into a potential reversal. Next level of support is the $6.65 range. Bulls would like a break out of this downtrend.
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