This week quotations for wheat and soybeans fall down in value. In the USA corn has dropped in price by 21.25 cents, having amounted to 7.22 dollars per bushel, whereas it used to amount to 7.4325 dollars. The drop has amounted to 2.9 percent, which makes up 264.4 dollars per ton. Soy has lost 31 cents and currently costs 15.7 dollars per bushel, whereas it used to amount to 16.1 dollars. The drop has amounted to 2 percent, which makes up 575 dollars per ton.
The most recent impulse trend on corn future gives grounds to predict that the downtrend within three-wave structure continues. Therefore, when wave 5 of [a] is over, minor price consolidation within wave [b] should be expected, followed by another downtrend. Important levels of resistance include 749.4-760.
