Sunday, July 15, 2012

Corn Futures at the Decision Point

The front futures closed at 740.250 on Friday, the bottom of the resistance zone from 2008 and 2011.
Here's the weekly five-year chart with Commitment-of-Traders in the lower panel.
From Alpha Global Investors:

(click to enlarge)

We'll have the 5-year daily chart next week. In the meantime there's not a lot of rain in the forecast.
From Intellicast's Raincast: