Update on Corn Cycle May 2019

   Daily and Weekly cycle low was set Monday May 13, 2019 at 335.5 by the May contract, which expired the next day.  The 13th was a 'nice' key reversal from Friday's down, but bounce off the low close.  Monday now appears to be a climax low based upon a stock market China reaction.

  Crop progress report was miserable, and corn rallied smartly on Tuesday the 14th and has rallied to 3.99 as of this posting.

   May 13, 2019  appears to be a midpoint low from the last 18 year low (came early) of 301 in August 2016.  (Previous 18 year cycle low was 174 in 2000).  Thus, one 'should' expect a rising market for some considerable time frame.

  May 13 was 24 weeks from the last weekly cycle (17-27).  Weeklys tend to have two  3-5 week rally timeframes followed by a 3-5 decline thereby fulfilling the 17-27 cycle.  THUS, one would presume Corn is now 'due' for a rally time period most likely 5 solid weeks.

  I anticipate the next daily low to be June 10 +/- several days.  Looking for a high June 17ish +/- a few days.

  Corn created a weekly gap on Monday May 20, which if measured from the 335.5 low suggests a move to the 435 level.  Continuous July contract shows 410 level resistance.  The Lead contract high in 2015 was 443 and in 2016 was 439.

  Other thoughts, ideas, or projections?