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AgMarket.Net's technical analyst says July corn has formed a double bottom near $3.09 and is trending slightly higher despite rising USDA carryout. July soybeans closed above resistance and may test the 100-day moving average if strength continues.
The analyst expects bottoms to be building into the key yield-sensitive weeks.
Technical support and possible bottoming in corn and soybeans could lift near-term prices if upside is confirmed. Weather in the coming weeks will decide whether the trend holds.
farmprogress.comBrian SplittJun 12, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
