AUDIO COMMENTARY & CHART VID

Bounced right where we needed to in corn
Full video chart breakdown below*
Next target for corn in video below*
For those that have to move grain vs do not
Great day to add protection for soybeans
Still a very real chance beans go lower
Talk about Government shutdown. Would include the Jan USDA report
Wouldn’t be selling wheat at these levels
Simple re-test for soybeans before heading lower? (video below)*
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VIDEO CHART UPDATE

We go over our next longer term target for corn. How we calculate bottoms & tops. And why this could be a simple re-test for beans before going lower.

CHARTS

If you don’t want to watch the video here is the charts, although the video breaks it down far better than I can in writing.

March Corn 🌽

Bounced right in that golden zone and had a perfect backtest of that symmetrical triangle.

As I had been saying, usually when you break out of a range, you simply come back to retest the point of breakout to confirm support.

The next longer term upside target is our golden fib extension of the recent rally from $4.25 to $4.51. The golden fib equates to 161.8% of that rally which brings us to $4.67

Ideally I want to see us continue to hold that blue uptrend line.

If we ever break below that black uptrend, my bias will likely switch lower. Until then, it remains higher.