Grain Markets are Mixed in the Early Morning Trade
https://www.youtube.com/watch?v=nxC-NEgP-fk
We were on RFD-TV yesterday morning with Scott the Cow Guy, sharing our thoughts on the recent price action in the grain and livestock markets.
Corn
Technicals (May)
May corn futures posted their fourth consecutive day of gains but have failed to find any follow-through in the overnight and early morning trade as prices flutter around our resistance pocket near 440. We remain upbeat and think there is more upside potential in corn from these levels but would welcome a day of consolidation. Support comes in from 431 1/2-433 1/2. If the Bulls can chew through yesterday’s high, we could see an extension towards 447 1/2-450, which represents previously important price points and the 50-day moving average.
Bias: Bullish/Neutral
Resistance: 440-442, 447 1/2-450*
Pivot: 431 1/2-433 1/4
Support: 421-422, 415-416, 398-402**
Check out the full article at: Grain Markets are Mixed in the Early Morning Trade - Blue Line Futures
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