|
Starbuck Manitoba Canada | I am using the daily may and getting the numbers off of Mr. Grain's chart above. Corn is $4.96, and beans are $12.40. Both values are the 38.2% retracement. Having said that if corn gets to $4.96 then I would think beans should fill the gap at $13.06. I am relying on his math by the way.
As far as price has fallen a bounce is in order, and with the bounce farmer selling will dry up for a few days movement in price.
For those hanging their hat on a drought this summer to elevate price back to last spring/summer levels is probably not a great plan. | |
|
Corn & bean charts look solid post negative USDA report
