TARIFFS PUSHED BACK
AUDIO COMMENTARY
After this audio, it was announced Canada tariffs will also be delayed 30 days along with Mexico*
Off lows: Corn +16. Beans +27. Wheat +16
Mexico tariffs got pushed back a month
Gapped lower 2 days in a row. Closed them
Reversal candle in corn
If you puke sold, you aren’t comfortable
Hard to see us Mexico & Canada not making it work
The funds continue to defend their position
I still do not like selling new crop corn for most
The number one play to defend new crop
Old crop leads the way higher & lower
At some point old & new crop will come together
There is a risk of swimming in beans
Feels like the market wants to go higher
Corn bounced in golden zone (chart below)*
Next targets for corn. $5.37? (charts below)*
All chart breakdowns below*
Listen to today’s audio below
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CHARTS
March Corn 🌽
We bounced perfectly in the green box we had been mentioning. (Golden Zone). So perfect bounce in corn.
Next target is $5.08
Why?
2 reasons.
1st reason is that it is the May 2024 highs.
2nd reason is that it is the 61.8% retracement to the contract highs of $5.74 (61.8% is the most common retracement)
I like having my target orders a few pennies below the actual target to make sure they hit. So an example would be $5.05
2nd Big Picture Target is $5.37
Back in late 2023, prices were trapped in the $5.08 to $5.37 range for several months.
$5.37 is also the 78.6% retracement to the contract highs.
Continuous Corn 🌽
$5.37 is also the 38.2% retracement to the April 2022 $8.24 highs on the continuous chart
July Corn 🌽
$5.37 is also the 61.8% retracement to the contract highs on July corn.
$5.37 corn probably happens on the July contract if it does, not March.
Next 2 targets for July Corn:
$5.15 then $5.37
Dec Corn 🌽
Nothing has changed, we hit the first target of $4.64
Next target is $4.72
March Beans 🌱
Next upside objective is still $10.80
If we bust that, it opens the door a lot higher
We bounced right where we needed to
Nov Beans 🌱
Next target is still $10.82
We still have the inverse H&S that has an implied upside move of $11.50 which is going to be our longer term bigger picture target
March Wheat 🌾
Chart looks great. Like we have finally carved out a bottom
If we close above $5.69 the next stop should be $5.84
March KC 🌾
A close above $5.89 and the upside opens wide open. Sitting right under right now
Generic Cash Sales Tracker
Due to requests here is our generic cash sales trackers.
This does not include any hedge recommendations etc. Simply cash.
This is futures prices.
For old crop there is no percentages as we only recently started tracking our generic sell signals. Future new crop sales will have percentages as we continue to make sales.
This will be included at the bottom of every update.
Past Sell or Protection Signals
We recently incorporated these. Here are our past signals.
Jan 23rd: 🌽 🌱
Corn & beans old crop sell signal.
CLICK HERE TO VIEW
Jan 15th: 🌽 🌱
Corn & beans hedge alert/sell signal.
Jan 2nd: 🐮
Cattle hedge alert at new all-time highs & target.
Dec 11th: 🌽
Corn sell signal at $4.51 200-day MA
CLICK HERE TO VIEW
Oct 2nd: 🌾
Wheat sell signal at $6.12 target
Sep 30th: 🌽
Corn protection signal at $4.23-26
Sep 27th: 🌱
Soybean sell & protection signal at $10.65
Sep 13th: 🌾
Wheat sell signal at $5.98
May 22nd: 🌾
Wheat sell signal when wheat traded +$7.00
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