Grain TV: Bears Move in on Corn and Soybeans
Lack of sales in daily export reports opened the soybean markets to bears, causing the market to drop through $14.50 resistance. Another weekly decline in ethanol crushings moved corn lower and a continued downtrend in the market seems likely.
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,