Daily US grain report:

US grain futures prices were steady to firmer in overnight trading.
calendar icon 20 September 2019
clock icon 7 minute read

Weather in the US Corn Belt remains warm but too wet in some areas. There are no worries regarding a killing frost for the region.

Next week the harvesting pace for US soybeans and corn will start to pick up.

Bears have chart advantage but price downtrend is now in jeopardy. More gains in near term would negate the downtrend to suggest a market bottom in place
Bears have chart advantage but price downtrend is now in jeopardy. More gains in near term would negate the downtrend to suggest a market bottom in place

© Jim Wyckoff

Bears have chart advantage but price downtrend is now in jeopardy. More gains in near term would negate the downtrend to suggest a market bottom in place
Bears have chart advantage but price downtrend is now in jeopardy. More gains in near term would negate the downtrend to suggest a market bottom in place

© Jim Wyckoff

Recent price action and the technical charts suggest "harvest lows" are in place for grain futures prices. However, worldwide demand for US grains will have to pick up from present levels in order for price uptrends to be sustained in the US corn, soybean and wheat futures markets.

This week's correction following recent gains is not bearish, but bulls now need to step up and show some strength
This week's correction following recent gains is not bearish, but bulls now need to step up and show some strength

© Jim Wyckoff

This week's correction following recent gains is not bearish, but bulls now need to step up and show some strength
This week's correction following recent gains is not bearish, but bulls now need to step up and show some strength

© Jim Wyckoff

Weather in the US Corn Belt remains warm but too wet in some areas. There are no worries regarding a killing frost for the region.

Next week the harvesting pace for US soybeans and corn will start to pick up.

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