May Corn steady
May Beans steady to up 1
May Wheat steady
Levels of: Support and Resistance
Wheat $9.28, then $9.11; $9.60¾
Corn $6.76, then $6.54 $7.16¼
Soybeans $16.13, then $15.78 $16,.71, then $17.59
Today's price action was more like a steady bull. If you know what the fear index (VIX) in equities (sptocks) is, that index was way down today in grains.
Volatility up = more fear, less confidence.
Volatility down = less fear, more confidence.
We will see if the market can string 2 or 3 days in a row like today to confirm this violent correction is over.