date:Jul 02, 2013
A very bearish USDA acreage report last Friday has sunk the corn market. Prices are now poised to push below major psychological support at the $5.00 level. Corn bears have the solid overall near-term technical advantage. This is the critical week of the year (July 4th U.S. holiday) in which grain prices can reverse trends or accelerate them. Right now it appears the grain market bears are working to accelerate price downtrends. Corn bulls' next upside price objective is to push and close prices