The Midwest growing area of the U.S. is locked in drought that is reducing potential crop yields daily. The current crop is stressed — and we are fast approach the time when yields could drop sharply without soaking rain storms.
If the current bull market continues, the question becomes, “How high is high?” The charts may offer a clue. This is not a prediction but simply a possibility.
The quarterly Corn chart is poised to make a new all-time high. The chart displays a possible 4-year ascending triangle. This pattern would establish a target of $12.50 if decisively completed by a Friday close. . . .
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