- Weekly charts of Corn, Soybean and Wheat all turning bearish. Soybean lagging behind the other 2 a bit; unfortunately I have my short here and not in C and W. Typical! [But there is a good reason for this .. S has the most bearish looking monthly chart among the 3].
- Not sure what the fundamentals are that is driving all 3 down at the same time. Strong USD? Crop friendly weather?
1 comment:
Comments from reader CH :=
On soft commodity. There were generally large harvest last year as farmers put most farmlands to use.
Interestingly, China is starting to buy wheat and corn in the open market and they have not done so for the past decade.
And the price of corn in China is 100% more expensive than Chicago contract, mainly due to the severe drought in the country.
But charts are rather bearish still.
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