Bull is still alive in grains
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Started by metmike - May 7, 2018, 6:16 p.m.

Technically, we have not done any damage on the charts to the bull case for beans yet, even with todays drop of 23c in the July. 

Continued weakness, however will start to make things look very shaky as we will violate the uptrend channel from late last year. 

Corn looks very bullish and like a freight train headed much higher from a charting perspective. However, corn stalled out late last week, just below last Summer's weather spike higher in July. Good weather to catch up on planting, followed by good growing season weather would probably mean the highs are in. 

However, odds are high that the growing season will feature at least one dome scare, which will take corn 50c higher in a flash because the fundamentals are now bullish(ending stocks projected to plunge). 

Wheat has been the strongest and most volatile but showed us a double top last week............that could have just been short term. The HRW crop in the US is a disaster. There has been dryness concerns in Russia and Australia in recent weeks..........which will be factors ahead.

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By silverspiker - May 7, 2018, 6:56 p.m.
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By silverspiker - May 7, 2018, 7:07 p.m.
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file:///C:/Users/public.DEV-PUBLIC/Downloads/cropconditions.pdf

  

... there is no way in hell anybody can read this...HOWEVER ... they are comparing wheat to worst years ever 1996 and 1989....

By metmike - May 7, 2018, 9:38 p.m.
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silverspiker,

That link did not work. Do you have a better one?