I am watching the corn and soybean markets go from a down trend to a basing/bottoming trend. My charts are showing the start a series of W’s. That is when prices move higher for 3 to 5 trading days, then lower for 3 to 5 days. The December-to-March corn spread closed at 7 ¾ cents on Monday and the November-to-January soybean spread closed at 7 ½ cents on Monday. If that spread narrows into Friday, then it will be a positive signal for a change in trend in the corn and soybean markets.
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