12,939 is the 62% retracement of the sell off we suffered through, capped off by last Friday’s 4-month low tick at 12,436.
We have bounced back 500 pts in a week.
Exports in the grains were, in a word, bullish.
Corn, Wheat and Beans continue to fight back making new highs.
Please take profits.
Corn has rallied 40 cents in a week.
Wheat has rallied 25 cents after posting a 4 month low last Friday.
Beans have rallied 55 cents after posting a 5 month low last Friday.
CER