Corn:
Price took a 5% beating during the past week and has therefore principally negated our bull scenario that we had put on the chart last week. Still, we see that the bottoming out is imminent although the confirmation of same has not yet been delivered and price is close to its contract low of Aug 12 at 322.50 which is likely going to be taken out during the coming week.
We are taking a step back for a breather on this chart and we are now looking, again, for a bottom to form on very short term and keep the 310/300 region for that on our mind.
Price took a 5% beating during the past week and has therefore principally negated our bull scenario that we had put on the chart last week. Still, we see that the bottoming out is imminent although the confirmation of same has not yet been delivered and price is close to its contract low of Aug 12 at 322.50 which is likely going to be taken out during the coming week.
We are taking a step back for a breather on this chart and we are now looking, again, for a bottom to form on very short term and keep the 310/300 region for that on our mind.