The grain market bulls are on their heels to start 2023, as risk aversion in the general marketplace has dented their enthusiasm. A big drop in crude oil prices this week is also bearish for the grains and for most of the raw commodity sector. Wheat and corn futures have this week seen near-term price uptrends negated. Soybeans are still in an uptrend on the daily chart, but the bulls also appear exhausted at present. Grain traders, keep a closer eye on crude oil in the coming weeks. If crude continues to trend lower, the grains will likely follow. Stay tuned! Jim Wyckoff