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DTN technical analysis shows March corn in a persistent downtrend, trading below major moving averages with spot near $3.76 and support eyed near $3.65. January soybeans have turned higher in the short term after a recent corrective rally, with December soybean oil's $31.59 high a key level.
Technical momentum favors continued weakness in corn and firmer soybean and soybean oil trends, shaping near-term pricing for feed buyers.
dtnpf.comTregg Cronin DTN Contributing AnalystDec 9, 2019Not enough comparable past events yet for a historical read.
Not 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.
Technical downtrend with corn below major moving averages suggests momentum selling and stop-loss triggers that could amplify a one-day decline.
