David Fuller's view Rough Rice (weekly & daily) is challenging lateral resistance just over $16. Another downward dynamic, as we saw in December 2009 and February 2011, is required to reaffirm resistance near this level. Conversely, a sustained upward break would signal higher levels to follow and further increases in Asia's food prices.

Corn (weekly & daily) rebounded today, and another close beneath $6 is currently required to question a further test of the overhead top areas. Corn supplies remain exceptionally low. For the current US crop, abandoned acreage due to flooding, late planting in some regions, the risk of above average temperatures this month as experienced last year, and a late harvest this autumn pose risks for yields.


Gold (weekly & daily) is testing its highs in USD after seven consecutive days to the upside which means that it is becoming a little overextended in the short term. Nevertheless, a downward dynamic near current levels is required to reaffirm more than temporary resistance near the early-May high to date.