DON’T PANIC. TODAY REINFORCED HIGHER PRICE OUTLOOK

Written By Sebastian Frost

AUDIO COMMENTARY

  • Markets under pressure, able to close off lows

  • Bulls hopeful can bounce next couple of days

  • Day 2 of crop tours not as great as day 1, but still surprising some

  • Romania sold wheat under cutting Russia

  • Basis contracts & delayed price

  • Don’t sell at the lows

  • Scroll for crop tour numbers & technicals*

Listen to today’s audio below

Last Chance Offer…

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CROP TOUR RESULTS

Charts from Karen Braun

DAY 1 - SOUTH DAKOTA & OHIO

DAY 2 - NEBRASKA & INDIANA

CHARTS

Corn 🌽

Bulls still haven’t got a close above $5 since August 2nd. Downside support remains at the $4.60 level, which I wouldn’t be too surprised to see a test of if the crop tours aren’t the most friendly. If they are, we first need $5 then perhaps we eventually look to close the $5.25 gap.

Beans 🌱

We are finding support right at that $13.41 level we mentioned yesterday. But we do need to be aware of the potential head and shoulders pattern. Will see if bulls can run up and retest $13.77

Chicago 🌾

We have a potential double bottom in play for both Chicago & KC

KC 🌾

Sebastian Frost
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