RISK & UPSIDE FACTORS

AUDIO COMMENTARY

  • Decent action for corn market

  • What to watch: how heavy are deliveries

  • Risks in the market

  • Why we have potential upside long term

  • What to do if you have to sell corn

  • Strategies to avoid: when & when not to use basis contracts

  • How to be proactive & take opportunity

  • Not letting elevators use your money

  • Staying away from DP

  • South America still looks bullish

  • Start of a wheat rally or another death cat bounce?

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CHARTS

Corn 🌽

We just barely missed a key reversal by 1 penny. Bulls need this $4.50 support range to hold and to break out of the month long downtrend. From what I’m hearing, most seem to think this $4.50 will be heavy support, as most can’t justify anything lower right now with the Brazil situation looming. Bulls need above $4.96 to get real excited.

Beans 🌱

Wide ranges the past 3 days. Still stuck in a wedge. The downside risk for beans is that bull trendline around $13.15. Bulls? You want to break that upper trendline right around $13.95. Next targets are $13.63 and $13.88 but be mindful of the head and shoulders pattern.

Chicago 🌾

Great back to back days. Stopping out at the 20-day EMA. If we want to break out of this brutal coppy range, we will need a break above $6.21.


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LOWS FINALLY IN OR ANOTHER SELLING OPPORTUNITY?

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WHAT COULD CAUSE THE FUNDS TO COVER?