WAS TODAY HEALTHY CORRECTION BEFORE GRAIN RALLY RESUMES?
AUDIO COMMENTARY
Sell signal wheat follow up
Choppy action for corn & beans
Early harvest results
Basis thoughts
Crop insurance rally still coming?
Corn & soybean targets
Selling wheat calls
Selling the carry
Why harvest weather is important
Was today healthy correction?
Call in for 1 on 1 market recommendations
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CHARTS
Corn 🌽
This bull flag breakout is still valid unless we take out Friday’s lows of $4.06. A break below and it becomes invalid.
Implied move for the flag is still $4.23-$4.26
This pink line is still the biggest thing I’m watching to confirm a bottom.
A break above and it would look good saying we likely made our lows.
Beans 🌱
Basically just range bound in this triangle. A break above likely brings more upside. I still want to see us make a higher high at $10.42 to call a definite bottom
Support remains at $10.00
Wheat 🌾
Not a good candle today.
Broke right back into that green box of $5.80. Could bring more downside or be a bear trap. We will likely know soon. Could very well find support here, as we did previously see resistance here.
Ideally we need to hold $5.60 to keep this recent uptrend in tact.
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Check Out Past Updates
9/13/24
CORN & WHEAT BREAK OUT: EVERYTHING YOU NEED TO KNOW
9/12/24
USDA RAISES YIELD BUT REPORT WASN’T ALL THAT BEARISH
9/11/24
USDA TOMORROW. MAKE OR BREAK SPOT ON CHARTS
9/10/24
USDA THURSDAY
9/9/24
LOWS ARE IN UNLESS SOMETHING FUNDAMENTALLY CHANGES?
9/6/24
GRAINS WEAK. OUTSIDE DOWN DAY ON CHARTS
9/5/24
GRAINS GET HEALTHY CORRECTION. GETTING READY TO PROTECT DOWNSIDE
9/4/24
GRAINS CONTINUE RUN. WAYS TO PLAY THE MARKET. WHAT’S YOUR SITUATION?
9/3/24
GRAINS CONTINUE BREAK OUT FROM LOWS
8/30/24
ANOTHER STRONG DAY. GETTING MORE CONFIDENT BUT NO CONFIRMATION
8/29/24
CHANCE FOR A BOTTOM, BUT STILL CAUTIOUS. DIFFERENT MARKETING APPROACHES
8/28/24
WHEAT FOLLOW THROUGH WHILE CORN & BEANS GIVE BACK
8/27/24
DECENT PRICE ACTION. BASIS CONTRACTS. ROLLING VS FUTURES. NOT FALLING FOR BIG AG TRAP
8/26/24
FIRST NOTICE DAY PRESSURE & CROP TOUR RECAP
8/23/24
CROP TOUR SHOWS MASSIVE BEAN YIELD
8/22/24
UGLY DAY FOR WHEAT & BEANS, STILL RISK, CROP TOURS, CAPTURING CARRY
8/21/24
CROP TOUR DAY 3. NOT HUGE MOVEMENT
8/20/24
CROP TOUR SO FAR & COMPARISON TO USDA
8/19/24
CROP TOUR BOUNCE
8/16/24
RISK REMAINS LOWER. MANAGE YOUR RISK
8/15/24