Should I be selling this rally?

May corn is showing signs of a short-covering rally as stochastics are approaching over-bought conditions. For those looking to raise cash from a corn sale use 373 as a target for that sale. Support is 367.

Dec corn support is 390 then 388. Stochastics are over-bought. Farmers needing coverage should sell the market here (394).

May soybeans found support at 935. Resistance is 963. Fundamentals are bearish. Stochastics are over-sold. There are no upside targets at this time.

Nov soybeans support is 955. Resistance is 967. Fundamentals are bearish. Stochastics are over-sold but a rally is unlikely unless Midwest weather improves allowing farmers to get to the field and begin planting corn. Further weather related delays would be bearish new crop soybeans. Upside targets are unclear.

Wheat contracts have become over-bought and prone to correct lower. Holders of old crop wheat should consider selling here. There are no recommendations to sell new crop wheat at this time.