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Markets try to hang on after chart meltdown

Bearish mood prevails ahead of start to China talks, USDA forum. (video)

February 20, 2019

Bearish technical traders had a field day Tuesday, returning from the holiday weekend to punish corn, soybeans and wheat on their charts. Futures are trying to stem the tide of that selling this morning, with mixed results so far as markets wait for potentially big news to break over the next couple of days. In addition to high level trade talks with China USDA will update forecasts for 2019 crops at its annual outlook conference.

Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

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