While I wouldn't say we're in the clear with this trade, we are looking better today. We stayed above the upward Trend Line, and we closed above the 3ema, 8ema, and the 20sma.
Also, we had an increase in today's volume compared to the last 2 trading days. That adds credibility to today's bullish close.
July Soy Oil looked very bullish, while Soy Meal looked very bearish. Soybeans looked bullish but Wheat looked bearish. So, can't really get much insight from the grains complex as a whole.
So we stay in the long July Corn trade and continue to watch it closely.
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