CORN - Are the crops that good?

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The latest USDA reports and estimates are showing some interesting values. Everybody is expecting a very good Corn             production. Last year they were expecting a very bad one, but from then the price lost more than 50%. So I will not be surprised to see a lower production than estimated right now.
From the technical point of view, the price got to a key level support. Here we have some interesting reversal signals like a little Falling Wedge (better seen on daily charts ) and oversold on the RSI . A rally from here could get the price around 5.5$ per bushel. On the other hand a confirmed breakout under 4.25$, accompanied by a big production could get the corn             to 3$ per bushel, or why not, even lower.
Raznav, what do you think ? are we going to $3 ?
Razvan generationyfarmer
At this point the technical window is opened for a drop. I will be very careful around 4$ per bushel. The price is pretty low for the producers.
Guys cant grow corn for 4$...something is going to have to change to entice them away from full season soybeans...were full of corn at the mill and waiting on higher prices.. technically im looking long right now but don't see much change until after the first of the year...I agree with the analysis
Razvan jbj0120
Thanks for your input!
i expect an upmove until 540, then down again to 460 or 400, this will take time until spring next year, and then in august 2014 the price could go explosivly up towards 1000
zrazdvuj razvan ;-)
watch this: my "Corn Cyclus"
Razvan nikop
Hey! Nice Chart, I've seen this cycle and watched it. Great analysis! What do you expeect?
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