CAN WE FIND DEMAND?

Written By Sebastian Frost

AUDIO COMMENTARY

  • Corn made new lows but closed green

  • Higher crude might help grains long term

  • Areas that felt that heat aren’t full swing harvest

  • It will be a few weeks until we see the areas that are going to disappoint and make this market notice

  • We might not know a ton about yield until Jan.

  • What if yields drop and the SA crops not there in January?

  • Soybeans still have plenty of potential

  • Will corn spend more time above or below $5?

  • When combines roll I don’t think the yields are going to be there

  • What would need to happen for higher prices

  • If we are selling stuff we want to start re owning

Listen to today’s audio below

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THE CHARTS

CORN 🌽

Corn did make a new low today of $4.67 3/4. But we managed to close a dime off those lows and back above that previous $4.73 1/2 support, but not above yesterday’s highs. Closing at $4.76 1/4.

Bulls need to hold the $4.63 level.

Current upside target: $5.00

BEANS 🌱

Beans closed right at that 23.60% retracement level. Bulls need to hold $13.00 or we could very easily test $12.82 (our August lows).

CHICAGO 🌾

Chicago trades lower for the 2nd day in a row, but we have still managed to hold those lows we talked about last week from the USDA report. We still believe there is a good chance Chicago made it’s lows ($5.70) Closed today at $5.84

Sebastian Frost
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