Grain and Oilseed Futures Index: Technical Breakdown Echoes 2018 Pattern

Grain Report Chart of the Day

Corn + Soybeans + Wheat

A nice setup in this index chart of sorts.

Compare today's chart to the one from 2018.

Now, this isn't quite a fractal, per se, but take a look at the relationship between the green 50-week moving average and the purple 200-week.

Notice how the chart dropped 20% as the 50 crossed below the 200?

Now the cross appears inevitable.

The question is: will the price respond similarly to 2018?

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Trent Klarenbach, BSA AgEc, PAg, publishes the Klarenbach Grain Report,  Klarenbach Special Crops Report, The Daily Board and The Daily Kernel newsletters.                                                                                                                                                                                                                                                                                                                                                                                                   

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