Wednesday, October 04, 2017 7:20:21 PM
continues to build base around the $3.60 resistance and Bullish trigger point.
prices remain in bullish oversold condition where bottoms tend to form.
World corn stocks have fallen heavily this last year and are at their lowest since the 2013/2014 season.
global stocks to usage have fallen for the second year in a row
demand has overtaken supply-bullish
China experiencing rapid depletion of grain stockpile, demand side shock coming.
China will be importing 2 billion bushels corn in years to come, would result in $5 to $6 bushel range
expect demand driven bull market in corn to become a wild bull market
sometime in the future, could be soon, since china imports have increased.
http://futures.tradingcharts.com/chart/ZC/C7?anticache=1507159151
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