FIS Technical – Grains And Ferts
SOY –The weekly chart is currently mid-range and from a technical perspective this is an unattractive place for trade entry. The daily technical however continues to look vulnerable due to the lower low, and overbought stochastic. Market longs should be cautious on a close below USD 9.62 as this would suggest technical support could come under pressure.
Corn – although technically bearish the Dec corn futures remain range-bound. Market sellers should be cautious on a downside breakout as there is the potential for a bullish divergence to form.