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uptrend |
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But the weekly and monthly charts for the index still show a strong multi-year uptrend firmly intact. The wheat complex is now in a weather scare market and the possibility of continued dry weather in the forecast we could see wheat continue to uptrend on Monday taking the corn and soybean market along with it. I would say prices have been in a longterm uptrend and fight now we are absolutely at the upper end of that range, so I would expect a correction," he said, adding that it could take a 20 percent slide in housing prices to bring the market back into equilibrium. |
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