SPREADS, BASIS CONTRACTS, STRONG CORN, BIG SALES

AUDIO COMMENTARY

  • Horrible close in wheat (chart below)*

  • Corn had outside up day. Bullish action

  • Consider rolling

  • Spreads continue to firm despite falling prices

  • If your basis hasn’t firmed up

  • We saw tons of daily sales. Solid demand

  • Spreads firming “usually” means higher prices

  • Want to see $4.10 corn for higher prices

  • Options very cheap. Easy way to protect

  • If trying to play the carry game

  • As far as marketing goes

  • Still a ton of downside risk in soybeans

  • Beans could easily be $1 higher or lower still

  • What could lead to selling opportunities

  • Dry weather globally supportive wheat

  • If you don’t have basis contracts priced yet

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CHARTS

Corn 🌽

Very solid day for corn. Looks like we might be finally “potentially” starting to turn around.

This $4.00 level has been offering great support.

We posted yet another outside up day (bullish indicator). Let’s see if this one gets follow through, as our last one Thursday did not.

$4.10 is the level we need to take out to confirm higher prices.

$4.00 is the level to hold. If we break below, there is little support.

Beans 🌱

The bean chart does not look “bullish” by any means.

But this is the 3rd day in a row we have bounced off the $9.70 level.

Really can’t say we are done going down until we crawl back over $10.00

Wheat 🌾

Awful close in wheat, well off our highs. The daily candle would often signal more potential downside.

However, we did hold Fridays lows.

Next major support is $5.65. Need to see us hold us that. If we do not, there is a pocket of air lower.


Past Sell or Protection Signals

We recently incorporated these. Here are our past signals.

Oct 2nd: 🌾 

Wheat sell signal at $6.12 target

CLICK HERE TO VIEW
 

Sep 30th: 🌽 

Corn protection signal at $4.23-26

CLICK HERE TO VIEW
 

Sep 27th: 🌱 

Soybean sell & protection signal at $10.65

CLICK HERE TO VIEW
 

Sep 13th: 🌾 

Wheat sell signal at $5.98

CLICK HERE TO VIEW
 

May 22nd: 🌾 

Wheat sell signal when wheat traded +$7.00

CLICK HERE TO VIEW


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STRONG DEMAND & TECHNICAL BUYING FOR GRAINS

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BEANS & WHEAT HAMMERED