Quotations for corn and soybeans dropped on Thursday. To be more exact, corn has dropped by 0.6 percent, and soybeans have dropped even more – by 2.3 percent.
In the USA corn has dropped by 4.25 cents, from 7.52 to 7.4775 dollars per bushel, or by 273.9 dollars per ton. Soy has dropped by 37.75 cents, from 16.6675 to 16.29 dollars per bushel, or by 596.7 dollars per ton.
Quotations for corn and soybeans have previously risen on Wednesday. Namely, corn has increased by 0.7 percent, soy – by 0.3 percent.
Corn future is supposingly starting to form down wave [c] of (z) within three-wave structure. Local low 738.8 is to be broken for such scenario to be proved. Significant resistance is provided by point 759. If this level is broken, correction within wave [b] will become complex provided that the uptrend bears clear impulse nature.
