BEANS BREAK $13. IS CORN NEXT?

Written By Sebastian Frost

AUDIO COMMENTARY

  • Solid close around the board

  • Basis is firming up in a hurry. Indicates demand is solid

  • Keeping basis opportunities open

  • Becoming a price maker and taking advantage of basis

  • What’s the upside for beans?

  • SA weather supportive & demand’s not slowing down

  • Targets and levels for corn, beans, & wheat

  • Will bean production trend continue smaller

  • What the sunflower market is showing

Listen to today’s audio below

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CHARTS

Corn 🌽

Back above $4.90 is a good sign. Bulls want a break above $5 which would open up the charts and spark some more upside.

Targets are the psychological $5, then our retracements of $5.30 and $5.49 1/2.

Beans 🌱

Closed above $13 for the first time since Sep. 28th. Settling right at that 38% retracement from the late August to early September sell off.

Officially broke that downtrend.

Now +60 cents off those lows.

Next target is our 50% retracement of $13.30.

Don’t see much reason why we couldn’t go higher from here.

Chicago 🌾

A break above $6 and we likely see more short covering.

$5.70 level is pretty important, which bulls would like to hold.

Still +40 cents off our lows. Seasonals point higher.

Sebastian Frost
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CORN BREAKS $5. IS WHEAT NEXT? - SOYBEAN RECCOMENDATION
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DID BEANS CONFIRM REVERSAL?