Corn planting progressed well in many places this week....guesses next Monday's number?
Corn and beans at huge support and no serious weather threats in May often cause support to fail.
Yesteday's USDA report was pretty bullish but non threatening weather could win.
The main problem is the wet area in a key area that includes much of northeast IA and S.MN.
wtf -15 cents...... e-wave should be sued
Good one mcfarm!
Thats how you farmers get repaid for doing such a great job planting your crop this year (-:
More unwanted rains for northeast IA and vicinity
coming up in the short term. I'm guessing that the
wetter NAM in that area that came out before 10am,
gave the corn some short term support.
Dec corn had some good support that was broken
earlier and now we are back just above it.
Technically, this is a key place for corn.
Beans and wheat look bad on the charts
. ......corn, by a mile the strongest........trying to hold on.
Remember Monday May contracts expire at noon.
Watching CK at 388.75 the CH high. July corn should have support at 395 and 392. CZ imho support 412-409
Corn does have the bull story. BUT we still have to think about ethanol/rins and NAFTA. Technical breaks are we good for markets.
Sorry I cut into this thread but mike after your map I couldn't reply
"Sorry I cut into this thread but mike after your map I couldn't reply"
No such thing as having to be sorry for cutting in here.
We very much appreciate your wisdom and sharing on MarketForum. Cut in as much as possible, when ever and where ever possible.
Post your thoughts on every thread...........as many times as you wish bcb (-: