Well coordinated timing/price confluence in the 30year treasury. It was a perfect setup right at the start of new year until jan 31 when the high fib extension was reached. It may revert back to the lows shortly.
30 year Bonds are now at the top end of a multi-year downward channel. Keep in mind that bonds do tend to follow channels and trend lines over the long term. If this channel holds bonds may be in for significant selling into 2020 and beyond all the way down to the bottom of the channel.
Farmers often will not sell into low fall prices, and with the corn crop being is poor condition this year I think we may see about 5$ corn by the end of the year due to poor overall crop conditions and farmer hoarding. Doubly so if we get a cold snap is the near future.