Daily US grain report: Coronavirus outbreak dents grain market bulls again

US grain futures are mixed to firmer in early US pre-market trading Thursday. Corn is up around 1 1/2 cents, soybeans near steady and wheat is around 1/2 cent higher.
calendar icon 7 February 2020
clock icon 7 minute read
Choppy and sideways price action likely in the near term, but the downside appears limited.
Choppy and sideways price action likely in the near term, but the downside appears limited.

Recent price action could be "basing" that kicks off a price uptrend at some point in not-too-distant future. © Jim Wyckoff

Choppy and sideways price action likely in the near term, but the downside appears limited.
Choppy and sideways price action likely in the near term, but the downside appears limited.

Recent price action could be "basing" that kicks off a price uptrend at some point in not-too-distant future. © Jim Wyckoff

Bears have firm chart advantage amid price downtrend
Bears have firm chart advantage amid price downtrend

More gains in near term would suggest market bottom is in place. © Jim Wyckoff

Bears have firm chart advantage amid price downtrend
Bears have firm chart advantage amid price downtrend

More gains in near term would suggest market bottom is in place. © Jim Wyckoff

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