Lower acreages on Corn have provide an upsurge. Next upside target for Corn is above the 50 day moving average at 380'6 to test resistance. Looking for completion of a bearish butterfly on spring rallies.
Thursdays report came in today. March Soybeans up sharply with a bullish USDA report pushed down production estimates lower than expected. Changed pattern from butterfly to Cypher pattern with extension. Next target for bulls is in the 1060 area.
Actually it is nothing to write. We are waiting for tomorrow's reports. Magazines are full of wheat. Prayer for the severe winter is ... greatly appreciated.