Grain futures languish at lower prices

The grain futures markets (corn, soybeans and wheat) are stuck in persistent downtrends that see prices at or near contract and multi-year lows. While there may be some more downside for grain prices in the near term, it’s my bias that major market bottoms will be forged in the grains in the next few weeks. However, for major bull moves to develop, it’s likely going to take a weather market scare during the U.S. planting and growing season that begins in the spring. Stay tuned! Jim Wyckoff