CBOT-Graph

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CBOT-Technical

 

 

 

First time we seen CBOT moved above resistance levels after it kept above  the 100 day moving average, not been able to drop below this level.

Planting progress is slow, but the traders still keeps to the saying, rains makes grain.

The market is in slight bullish trend, with the crop progress, figures adding support.

Seen a short squeeze last night on some short covering after the USDA Crop progress report, came out lower than expected.

Next level of resistance seen around  3.7350, in N contract.

Rating came in at 65% vs 68% expected-good to excellent.