Looking at 60-minute chart for corn. Close under $5.25 area seems like it would tip the market over. Ultimately bullish fundamentals in place but hard to fan the flames everyday.
The corn market is adjusting to a tighter supply scenario. Maybe the euphoria sparked by the Crop Tour dies down but the grain markets have turned into a "buy the dip" situation, rather than a "sell every rally".
We're hearing plenty about (disappointing) crops this week. What about the markets? The Crop Tour is making the grain markets move. I made a video about all the price action....
youtube.com/watch?v=zZ6GvGqO…
Corn, beans, wheat all teetering. Hard to rally in the summer with above normal precip in the forecast. I like beans the best for long term upside with a super El Nino likely to threaten Brazilian production. I also don't think sellers get too aggressive ahead of Trump/Xi meeting













