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
Sep 30th: 🌽
Corn protection signal at $4.23-26
Sep 27th: 🌱
Soybean sell & protection signal at $10.65
Sep 13th: 🌾
Wheat sell signal at $5.98
May 22nd: 🌾
Wheat sell signal when wheat traded +$7.00
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Check Out Past Updates
10/18/24
BEANS & WHEAT HAMMERED
10/17/24
OPTIMISTIC PRICE ACTION IN GRAINS
10/16/24
BEANS CONTINUE DOWNFALL. CORN & WHEAT FIND SUPPORT
10/15/24
MORE PAIN FOR GRAINS
10/14/24
GRAINS SMACKED. BEANS BREAK $10.00
10/10/24
USDA TOMORROW
10/9/24
MARKETING STYLES, USDA RISK, & FEED NEEDS
10/8/24
BEANS FALL APART
10/7/24
FLOORS, RISKS, & POTENTIAL UPSIDE
10/4/24
HEDGE PRESSURE
10/3/24
GRAINS TAKE A STEP BACK
10/2/24
CORN & WHEAT CONTINUE RUN
10/1/24
CORN & WHEAT POST MULTI-MONTH HIGHS
9/30/24
BULLISH USDA FOR CORN: RECOMMENDATION
9/27/24
UP-TOBER? SELL SIGNAL, TARGETS, & FACTORS
9/27/24
BEAN SELL SIGNAL
9/26/24
NEW HIGHS BUT CONCERNING CLOSE
9/25/24