Get Technical to Gauge Lifespan of Current Grain Price Rally

There’s always some profit-taking in the grain futures market at the end of a contract month, but when grain prices continued to sag into this week, it threw up red flags among traders and analysts about the sustainability of the price rally moving forward. Though far from the “gospel,” technical analysis can foreshadow a shift in pricing trends, and right now, corn and soybean charts are “flashing warning signs” that the recent grain rally might be drawing to its end, a signal to shore up market positions to minimize losses. Most notably, prices have exceeded both ends of last week’s trading ranges, testing key support prices that could encourage profit-taking if momentum appears to be slowing. See the latest technical analysis.