Weekly Market Wrap: Interesting Chart Action following USDA’s Reports

April 1, 2010 07:00 PM

Linda H. Smith, AgWeb Business and Marketing Editor
There were some interesting chart signals this week, says Jerry Gulke of the Gulke Group in Chicago. "As you might expect, given the extra supplies of corn and beans that were found, the impact of the reports wasn't a pretty picture technically,” he says. "The markets will be inclined to watch where the markets were before the report and sell any rallies that make it back near those levels. There's a chance we might make back 40-50% of what corn and soybeans have lost. Crude oil was the most exciting market this week, though—it broke out to the upside for no apparent reason.”
Listen in:
If you want Jerry's latest charts, e-mail Ashley@gulkegroup.com and they'll e-mail them to you.
For More Information

You can e-mail Linda Smith at lsmith@farmjournal.com.

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