Sep Wheat - 0.50 Higher
Sep Corn - 0.25 Lower
Aug Soymeal - 0.30 Lower
Aug Beans - 1.75 Lower
Crude price - 82.40, up 0.19
S&P price - 5668.25, up 3.50
The liquid continuation corn chart is currently the December contract. This chart painted a key reversal higher Friday - bullish. A key reversal daily bar prints a new low for the move, then rallies and closes higher than the previous 3 days high price. I meant to mention this on yesterday's report.
If corn gaps open tonight and the gap remains open all day tomorrow, this would signal a swift move higher lasting days to weeks - This type of gap is called a breakaway gap because it leaps up from any kind of bottom formation, including a spike low like we had on Friday. This will be known by tomorrow's close - keep a lookout.
Check out the daily corn chart -
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