Cbot Corn - A Big Bull Emerging?

[DaveT]

Corn is generally considered the least 'exciting' of the grains -

Except every 10 years or so...

Take a look at the MONTHLY chart attached.

A nice rounding bottom formed over 4+ years, and a strong upswing suggests next major resistance ZONE at 360-400. This area has stopped several rallies in the past.

Apart from 1995/96...

Fundamentals are very bullish. World ending stocks at 30-year lows, Chinese demand looming (China to become net importer this year?).

Major support from skyrocketing-super-soybeans.

Looks like a renaissance year for CORN.

Any thoughts?

 

[The Baptist]

Corn

Corn is generally considered the least 'exciting' of the grains -

Except every 10 years or so...

Take a look at the MONTHLY chart attached.

A nice rounding bottom formed over 4+ years, and a strong upswing suggests next major resistance ZONE at 360-400. This area has stopped several rallies in the past.

Apart from 1995/96...

Fundamentals are very bullish. World ending stocks at 30-year lows, Chinese demand looming (China to become net importer this year?).

Major support from skyrocketing-super-soybeans.

Looks like a renaissance year for CORN.

Any thoughts?

Hi Dave,

Once again I think you are right particularly Medium to Long term.

If anyone is considering it a trade currently, I might suggest that there has just been a short term bear signal particularly if you are candles person like me, two succesive engulfing bars, it appears to have pulled back most occasions this has occurred, and there maybe a possibility of a H&S building up.

Latest chart: http://www.cbot.com/cbot/pub/page1/...study2=&study3=&bartype=CANDLE&bardensity=LOW

However it does seem broadly Commodities are showing a lot of stirring even the sleepy giants, currently the tale all seems about China. Where is an 'El Nino' when you want one! to really blow the top for us Commodity Bulls.

If you make use of Bull entries I do think Dave is on the scent with his commodity posts.

Enjoy.

 

[bgold]

Corn's new bull run?

Corn may have completed its wave iv correction. Next leg up to 340+?

Ok, I wrote the above 2 weeks ago and indeed corn made new lows. Timing was unfortunate as corn is seasonally weak in May. have things changed this time round.

Overnight dec corn is up 5 1/4cts trading at ZC Z4 at 294 1/2. We'll see how it opens in Chicago?