Corn and soybeans are expected to rise next week due to worsening crop conditions. The Chicago Tribune reports via Reuters that the barge terminals for CHS Inc and Cargill may not ship at all next week.

Part of the Corn Belt is experiencing crop stress because it has been too dry. Conditions should improve in the next one to two weeks.

The bowl of CORN continues to look good. I sold it on an up spike to the 200 day moving averages (not shown on this chart), but it is still very intact, technically.

I have found bowl patterns in everything from Intel’s monthly chart to Ur-Energy’s weekly and monthly charts.

NFTRH 278 said this about agricultural commodities funds DBA, CORN and JO: “DBA was sold from the brokerage portfolio due to its over bought status last week, but CORN is still held because of a neat looking consolidation above the MA 50’s."