Weekly Grain update 4/10/22
The Soybeans took out the 1679.00 low Sunday night and by Monday morning they were well above it. The low didn't come close to the key combination of retracements at 1552.00, or the 1565.50 major Gann square and the rally has taken it to 61.8% of the current break on the close. Soybean Meal held the key support of 451.00 after coming off of the 490.00 long term target and is up $19 so far. Soybean Oil failed to get down to the key support of 67.75 and 66.75 and took out the 72.28 major Gann square keeping the trend extremely positive. Corn held the 734.00 major Gann square and went back up to 78.6% at 770.00 and looks to be going for the long term target. Wheat held 61.8% at 978.00 again, but has yet to turn any of the trends (Long, Intermediate, Short) positive.
We have made the post titled "New Crop" from 3/17/22 open to the public now. In it you can see what we were looking for and what has happened. We have also made our latest video "Grains and Fibonacci" open as well. Now for this weeks update.