date:Aug 14, 2012
were dissatisfied with the corn market's price performance Friday. After initially rallying to new record highs following a tighter supply projection by government forecasters Friday, prices closed below the prior trading session's intraday low.
The price action, called a key reversal, is a bearish price signal on technical charts, Mr. Cronin said. Traders followed through on the selling in corn Monday, with expectations for reduced demand adding to the losses.
However, corn losses were limited