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Central Missouri | Here are last weeks bars. Started with a gap in red on monday after bessent was on weekend shows. Had 3 consecutive higher closes with generally wider bars going into thursdays Trump meeting with xi. Thursdays bar in blue. As you recall market was higher in early morning then during day came down and tested the gap and closed in upper half of trade. Then follow through on friday to close on high in green.
As long as gap holds this market is in a good place. It is normal for rsi to get high in a bull market and then correct for a while prior to next push. Look at gold chart for that. Its hard to know if this market has legs but it has all appearances.
SO, is it the fact that there is no export info in the market due to govt shutdown spooking this market higher with short covering OR, is it moving higher because the export companies know what is going on because they bid on all of the export tenders. Remember china can hide alot of movement through cofco up to the point the boats are loaded and destinations have to be declared.
Remember in the early 70’s there were no export sales reporting requirements and the 3 letter commercials made a fortune because they had the info. The great grain robbery! The charts are telling a story but we dont know the end until its here and that is months away.
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Soybean chart
