A quick post on corn. We should have new buy signals from the RSI tomorrow or Friday. Corn closed today just above the 150 SMA.
Wheat did manage to close just below the 150 SMA, but the RSI will likely give a buy signal again Thursday or Friday.
The dollar showed some strength today. Despite the weakness in the dollar the past month, commodities have also shown weakness. I will be curious to see how the grains react while the dollar makes its mid cycle bounce.
As long as these moving averages hold, I remain bullish.