Is Corn Under Accumulation or Distribution?

[Money Trust]

Actually, this question could be asked for all of the grain markets. I'm not an "expert" at identifying accumulation and distribution but corn has been trading sideways for a while after a long down trend (daily charts). For the past few days, as prices have been on the upside, volume has been abnormally high...doubling that of the volume from the past couple of weeks. The volume has me thinking that buying power may already be exhausting itself without having even made it halfway through the range, and prices are also reaching lower tops. It's also doubtful that the recent rise will take out a supply level within the range.

What are your opinions?

 

[Brighton]

Some of the higher volume can be attributed to the various "rolls" going on right now in the index products. They all have their own rules, e.g. from the 5th to 9th business days, but if you wanted to dig into it you could find the largest ETFs/ETNs and look up their policies.