FARM BUSINESS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Dec 29, 2013 10:41 AM CST

Corn: The March contract closed 5.75cts lower. The secondary (intermediate-term) trend remains sideways. With weekly stochastics now bullish in an oversold situation (below 20%), the nearby March contract continues to hold above support at its recent low of $4.18 1/2 and below resistance at the four-week high of $4.40 3/4. Based on stochastics, the next change in trend should be up with the initial price target near $5.02 1/2.

Soybeans: The more active March contract closed 17.25cts lower. The secondary (intermediate-term) trend is sideways. However, the March contract posted a bearish outside week last week indicating it could work back ...

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