The Most Critical 2-Week Period of the Year for Grain Prices Is Just Days Away

Grain markets bulls are still on the ropes ahead of two big upcoming events that make up what is arguably the most important two-week trading stretch of the year. First comes Tuesday's USDA planted acreage and quarterly grain stocks reports, which combined make one of the biggest USDA data releases of the year for the grains. Second, the calendar turns to July late this week, quickly followed by the U.S. Independence Day holiday. History shows that grain trading in the few days following the Fourth of July holiday can be pivotal and volatile, including potentially accelerating or reversing existing price trends.

December corn (ZCZ26) on Friday fell 1 1/2 cents to $4.41 1/2 and for the week was down 2 1/2 cents. The beleaguered corn market bulls at least showed somewhat of a pulse late last week, despite Friday's mild losses. Last Thursday's technically bullish key reversal up on the daily bar chart in December corn is one clue that a market bottom is in place. Still, very good growing conditions over most of the Corn Belt will likely limit gains in the near term. However, corn traders are closely monitoring a heat dome that is presently enveloping the eastern Midwest right during

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/commodities/articles/most-critical-2-week-period-190002719.html)