Market Overview

Corn - Fresh 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 futures rallied today (2/25) along with soybeans and wheat with corn nearing highs it posted in July 2008.

This move higher for May corn futures suggests a fresh buy signal to me on the daily chart. Corn also gave a buy signal on the monthly chart in December.

Both soybeans and wheat are showing King's Cross counter trend buy signals to me on the daily chart as.

The International Grains Council reported that world corn reserves are forecast to drop to a four-year low and that record world production won't be enough to satisfy rising demand. The U.S. Grains Council also noted that China may import as much as 15 million tons of corn within five years becoming the world's largest importer of corn. China also bought a large amount of soybeans this morning which may suggest, contrary to belief that Chinese buying may continue.

To review what I consider a "buy signal" trend watch Larry Baer's Traditional Trending Strategy Video:

To review what I consider a "long term" trend watch Larry Baer's Long Term Trend Confirmation Video:

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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.

Posted-In: Long Ideas News Futures Technicals Commodities Options Pre-Market Outlook Intraday Update


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