Grains and soybeans on a roll
•On Jan. 12, USDA releases several big reports: the annual summary of crop production, grain stocks providing the first reading on this season’s usage and the first estimate of winter wheat seedings, all of which could be market-moving.
•Although the rally may have caught many by surprise, VantagePoint indicators spotted its early stages, as the predicted moving average (blue line) turned up (red circle) and crossed above the actual moving average (black line), a bullish crossover signal.
•The predicted neural index shifted from 0.00 (bearish) to 1.00 (bullish) a day after the low (1-gray line), supporting a bullish moving average signal.
•The predicted short-term (red line) and predicted long-term (green line) differences turned higher and moved above the zero line (2), more bullish support.
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