Grain's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
Great video on the grain this morning (See Latest Grains Review).
The USDA did shock the market yesterday by lowering corn yields well below trade expectations, many in the trade are screaming gross incompetence on the part of the USDA…shocking that a government agency is incompetent…right?
For soybeans they hit the numbers as the market expected, and were a little more bullish wheat than what the market expected and Russia seems to be losing control of their wheat price internally (think food inflation) ..bullish.
For now corn is the leader and everything else is following.
Beans seem tired and corn may put in a short term high today.
Thanks to all the sources providing explanations. You're better than MSM.
Matrix tells us the whole complex is tired. Continuation higher requires additional speculation in the form of "hot" money. Additional speculation becomes more difficult as the composite Grains DI continues to fall; I compare it to the analogy of pushing on string to produce an outcome (frustration). The composite Grains DI is located in line 63 column AD of the Matrix.
Composite Grains DI
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