Corn shows a Buy Signal
Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.
Corn rallied today (2/01) along with soybeans as the U.S. dollar declined.
Today's rally for March corn futures gives me a fresh buy signal on the daily chart. Corn is also showing a buy signal on the weekly chart so far this week. Corn also gave a buy signal on the monthly chart in December.
March soybeans also gave me a buy signal on the daily chart.
Demand for corn continues to be strong and ethanol usage is outpacing USDA forecasts, which may be adding support to corn prices. Also a strike by Argentina's port workers is blostering demand for U.S. exports which may be adding additional support.
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Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.
