All the grains reached limit up today by 1:00 pm EST. It looks like the downtrend is almost certainly over! Additionally, the Deutsche Bank Agriculture Commodity Index has continued to move higher following the close of the grain markets, suggesting additional buying pressure that may continue after hours. The daily chart for the DB Ag Commodity Index is below, showing a very powerful resurgence today. In fact, commodities broadly are showing tremendous price strength today. Has the commodity correction bottomed out?
