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Central Missouri | There was alot of wheat planted here last week but still way short on acres and production is in doubt on the acres planted last week as we have had 2" of cold rain in the past 24hrs with more to come. As far as what will price do I defer to the charts.
http://www.agrichartsmobile.com/markets/chart.php?ab=quotescharts&p...(direct)|utmccn=(direct)|utmcmd=(none)&__utmb=223457291.12.10.1258374042&__utmc=223457291&PHPSESSID=7rreduq9kt9geke1fglv50k8t2&studies=VOLI;MACD;
As you can see, the macd crossed higher with Thursday night trade.
The interesting thing is are we forming the right shoulder of a head and shoulders bottom? If so and we break the neckline it projects 7.20. Time will tell.
BTW, The weekly macd is long also.
http://www.agrichartsmobile.com/markets/chart.php?ab=quotescharts&p...(direct)|utmccn=(direct)|utmcmd=(none)&__utmb=223457291.12.10.1258374042&__utmc=223457291&PHPSESSID=7rreduq9kt9geke1fglv50k8t2&studies=VOLI;MACD;&a=W
Edited by ehoff 11/16/2009 08:07
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Soft Red Winter Wheat
