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Jim Wyckoff

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Grain market bulls ready to stampede

October 16, 2020 by Jim Wyckoff

See on the daily bar chart for December corn futures that prices are in a steep uptrend and have just hit a nearly 12-month high. Soybeans and wheat are in strong rallies, too. There are no early chart clues to suggest that market tops are close at hand. Importantly, it appears the psychology of the grain markets has changed. The commercial end-users of grains now want bigger stockpiles on hand, and the speculators are much more willing to play the long side of the grain futures markets. That’s a bullish cocktail. Stay tuned!– Jim

Filed Under: Blog News, Jim's Morning Report, Uncategorized

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