Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Wed Apr 9, 2014 08:20 AM CDT

If you look at the DTN Winter Wheat Crop Condition Index chart posted in the Grains segment Wednesday one would almost immediately turn bullish July KC (HRW). However, the contract's weekly chart paints a somewhat different picture.

Weekly price action (top chart) shows the contract has fallen back from its recent high, to the point of testing initial support near $7.29 1/2. This price marks the 33%* retracement level of the previous uptrend from $5.99 through the high of $7.94 1/2. Notice that there were two weeks where the contract posted highs above resistance near $7.77 3/4, a price that ...

Quick View
  • Is Your Burndown Working? A cool, wet spring and the spread of herbicide-resistant weeds mean farmers should take the extra...
  • Gains on Covers It took Jerry Doan several years and a lot of trials, but the North Dakota beef producer has lear...
  • Side-by-Sides and Cool Helmets Side-by-side manufactures continue to roll out new machines and machine updates. Here are two more.
  • Stress Test for Borrowers Farm finances rate an "A" now, but economists debate if that's good enough to handle a major corr...
  • Senators Question EPA A group of U.S. senators Wednesday told President Barack Obama that his administration has not fo...
  • Climate Work Ahead at USDA Ag Secretary Tom Vilsack spoke about GOP complaints regarding the Obama administration's work wit...
  • Full-Circle Farming Bill Couser sees farming as a full circle. If it comes off the farm, it can go back into the farm.
  • Making the Grade What if corn isn't cheap the next five years? Fickle price projections can sway farm bill choices.
  • Ask the Vet What's my best bet for fly control?
Related News Stories
DTN Closing Grain Comments
DTN's Quick Takes
DTN Midday Livestock Comments
DTN Midday Grain Comments
View From the Cab
DTN Before The Bell Grain Comments
DTN Early Word Opening Livestock
DTN Early Word Grains
DTN Closing Grain Comments
DTN Midday Livestock Comments