MARKETS NEWS
Jerry Gulke DTN Columnist
Mon Mar 10, 2014 10:34 AM CDT

After a prolonged downtrend in prices, grains have a tendency to retrace a certain amount or percentage of the total move down -- or upward, whatever the case may be. In the current situation, both wheat and corn had a prolonged drop in price. Most common retracements are approximately 38%, 50%, and 62%. How negative the fundamental picture is likely dictates the level of retracement. The point to identify as the reference point from where the slide in prices began can vary, depending on the circumstances, but usually one wants to look at a point in time where a fundamental ...

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