Both the corn and soybean markets traded to lower prices for the move, yet closed higher than Friday's settlement, on Monday. This is bullish price action - just 1 day, but it has meaning in the larger context. Corn has retraced 85% of the up move as of Monday. Soybeans also sold off, then touched and reversed hard on the steeper up trendline shown on the chart. Potatoes: At 370 million tons, potatoes are the eighth largest of the world’s agricultural products, thriving in diverse climates....

Focus on the 3 uptrend lines and notice how each successive one is steeper than the previous one. It is also noteworthy that price could not selloff enough this week to test the most recent line. This indicates increasing momentum on the daily, longer term timeframe. Also, today was an inside (energy building) day. Soybeans: At 370 million tons, soybeans are the world’s seventh largest agricultural product and a powerhouse crop, used for food, animal feed, and industrial applications....

The selling momentum has stalled in the last couple of days, with yesterday attempting another small down leg that was met with aggressive buying. I believe this market is counting a C wave correction from the rally which began last summer. We could see more backfilling creating an up D and down E leg, but the higher probability is new buying. Watch for heavy selling around 1200.0 - if not, then targets are 1300.0-1325.0. Sideways is out of the question because of recent price action. The...