Crop dropped through the bottom after concernes about shortage switched to the low moving price down fast. If trader have big deposit he is already a buyer. If smaller he is waiting for a news and mean reversal pattern to develop to have a setup for a buy. Giving current situation in Commodities market it could take weeks for a price to respond to a buyer activity. Meanwhile hedgers and farmers are unloading their positions. Buying is justified if trader could wait and maybe buy more during said reversal and could take solid losses. Price action still looks dangerous for a buyer, sellers could trigger bigger drop in such market. Still what is happening in Crop is inretesting this is cleraly a price artefact which could be exploited for a solid profit.
Comment:
Remember i am not your financial advisor. You are at your own risk. This is not an investment advice.