DTN Early Word Grains
BULL
1) The seasonal index for corn indicates an extended uptrend through mid-June.
BEAR1) The seasonal index for corn indicates an extended uptrend through mid-June.
2) Demand for U.S. soybeans remains strong.
3) The Chicago wheat market has been able to rally off technical support this week.
1) The May corn contract continues to struggle with technical resistance at the 200-day moving average near $6.68 1/4.
2) The soybean market remains overbought, a situation that theoretically could lead to renewed selling interest.
3) The wheat market has seen little fresh export demand news this week.
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