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Grain Markets Still Struggling; Weather Scares May Aid Bulls

April 8, 2019 by Jim Wyckoff

The grain market bears are still in firm near-term technical control. See on the daily bar chart for May corn futures that prices are in a downtrend and recent price action has formed a bear flag pattern. It’s highly probable that it’s going to take a “weather market” in the grains in the coming few months to jumpstart any serious price uptrends. However, more years than not during the U.S. corn and soybean planting and growing seasons, at least one weather market does occur, to varying degrees. Stay tuned!

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

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