Where does the expression "waterfall decline" come from? The chart below should quickly answer that question. These are the hardest markets to make meaningful sales in because the market never has a meaningful rally to sell into, and the next drop is looming.
The corn and wheat patterns are very similar. Elliot Wave (a method of charting) would point out that we are in a classic 5 wave decline. Notice how this worked out on the wheat chart below. Didn't this happen a year and a half ago?
I will be posting some corn targets this week on the Opportunity page.