Fund Shortcovering Sparking Grains - - - Brazil: Torrential Rains: An Alert

Subscribers note: THIS IS AN ALERT OF POTENTIAL FOLLOW-THROUGH PRICE MOMENTUM IN THE GRAIN MARKETS . . . .

Wheat, corn and soybeans have shown some welcomed price life for growers this week. What is causing this price recovery? There has been active fund shortcovering creating near-term chart resistance lines to challenged or break. TECHNICAL CHART RESISTANCE LINES ARE NOW BEING CHALLENGED OR BREAKING. The question now; can it last? And where are the resistance lines? Is Brazilian weather an issue?

Here’s a look at the technical lines that may challenged impacting local cash grain bids. This is also of-note to livestock feeders. Feed costs may be impacted heading into the new crop year. This is a watch . . . .