FARM BUSINESS NEWS
Darin Newsom DTN Senior Analyst
Sat Nov 2, 2013 06:44 AM CDT

Ag Markets: Weekly Analysis

Corn: The December contract closed 12.25cts lower. The secondary (intermediate-term) trend has turned down. Weekly stochastics remain well below the oversold level of 20% indicating the next move should be to an uptrend. The major (long-term) trend on the monthly chart is also down.

Soybeans: The January contract closed 42.00cts lower. The secondary (intermediate-term) trend on the weekly chart turned down. The January contract is testing key support near $12.48, the 67% retracement level of the previous uptrend from $11.69 to $14.06. Weekly stochastics are neutral. The major (long-term) trend on the monthly chart remains up.

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