DTN Early Word Grains
BULL
BEAR
1) The May corn contract is trading above short-term trendline resistance.
2) The carry in the old-crop May-to-July soybean futures spread continues to weaken, indicating a more bullish commercial outlook.
3) The Chicago wheat market could continue to hold above minor trendline support.
1) The May corn contract could find technical resistance at the 200-day moving average near $6.68 1/2.
2) Technically the soybean market remains short-term bearish.
3) Long-term global supply and demand remains bearish for wheat.
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