This Monday quotations of corn and soy have drop at world exchanges. Wheat has also dropped by over 4 percent.
In the course of trading session corn has dropped by 30.75 cents, having amounted to 7.5125 dollars per bushel instead of 7.82. This makes up the reduction by 4 percent or 275.2 dollars per ton. Soy has dropped by 76.25 cents, from 17.39 to 16.6275 dollars per bushel. This makes up the reduction by 4.4 percent or 609 dollars per ton.
Last week corn has risen by 0.9 percent, whereas soy, on the contrary, has dropped by 0.6 percent.
Corn future seems to have formed wave [a] of (z) within the 3-wave structure. If this assumption is correct, downward movement within wave [c] will continue when wave [b] is over. As an alternative, end of wave (z) and start of uptrend may be expected.
