AUDIO COMMENTARY

Trump announces tariffs again
Positive close across the markets
Light news. Geopolitics & Brazil
USDA outlook friendly probably won’t have anything friendly for corn & wheat
Historically this report isn’t friendly but the numbers could already be priced in
This report typically doesn’t lead to follow through
Should still see exports bumped
Weather will impact acres
Marketing wise being patient following last weeks sell signals in corn & wheat
Nothing wrong with locking in profit on last weeks recommendation if you grabbed puts
End users: buy at support
The funds aren’t long to lose money
Beans bounce at 100-day again (chart below)*
Corn bulls need to defend $4.80 (chart below)*

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CHART BREAKDOWNS

May Corn 🌽

Correction continues after hitting that $5.14 target & sell signal

Next upside target is still the $5.40 area

Bulls still need to defend $4.80.

Remember when we talked about the funds needing a reason to sell their longs?

A break below $4.80 would be one of those reasons. As there is zero support beneath and could result in corn falling to the $4.60’s

Dec Corn 🌽

Managed to climb back into the upward channel, so the uptrend remains in place. As we found support right at those Feb lows.

The downward trend from Nov 2023 struck again. A break above should esclate any upside.

Need to hold that green box to keep a bullish stance here.

Next upside target is still $4.84

May Beans 🌱

Beans continue sideways so very little to update once again.

We bounced right at the 100-day MA again today.

The future of soybeans is really this simple:

Break and hold above the 200-day = new uptrend

Break below the 100-day = go test $10.00 green box

Nov Beans 🌱

Nov beans also trapped between the moving averages.

Bulls last line of defense is that green box around $10.18

Need above the 200-day to confirm a trend higher.

May KC 🌾

Rejected right off that first target & sell signal at $6.35

Currently sitting at some support here, but wouldn’t be surprised to see us drop into that blue box ($5.92 to $5.80) as that would be a standard correction. (50-61.8% of this entire recent rally).

Still think this is a potential cup & handle pattern which is bullish.

My bias remains higher unless we break below $5.80

May Chicago 🌾

Bounced right at the 50% retracement of this entire recent rally.

Bulls need to hold $5.69 to keep the bias remaining higher. As anywhere in that blue box would be a standard correction.

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.