| illinois-kris - 1/24/2023 15:24
Do we retest the $6.86 resistance again this week or trade sideways? I'm looking fir commercials and funds to be building positions before Friday in anticipation of the end of the Chinese Holliday into the weekend. If we close above $6.86 before Friday I'm not sure if it will be short lived or if we head higher. I believe this is our third try at the resistance so if it fails I'm selling more old crop in anticipation of heading lower. Just some thoughts on this week's corn market.
Any thoughts on the old crop new crop corn spread?
I think that tells one that yes China has been in, which is what some of my former CHS Colleagues have mentioned off the record
Taking out the highs from last week opens the corn chart up…….next target would be Oct highs followed by last summer’s highs
We are not very far away from challenging and breaking out to the upside……..timing might not be now……but reality is we are just 1 or two good sessions from blowing open the charts
Edited by Farmingfun6969 1/24/2023 15:44
|
Corn resistance
