MARKETING STYLES, USDA RISK, & FEED NEEDS

Written By Sebastian Frost

AUDIO COMMENTARY

  • Very choppy action today

  • USDA report Friday

  • Bean sitting at support zone (chart below)*

  • China stimulus factor to watch

  • Brazil has rain coming. Priced in now?

  • If you plant SA beans late, 2nd corn is late

  • Livestock feed needs recommendation

  • What to do if you bought bean protection

  • Aggressive marketing style vs hedge 101

  • Why I think wheat can go higher

  • Wheat chart looks friendly (chart below)*

  • The risk going into the USDA

  • Nobody is prepared for massive yields

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CHARTS

Corn 🌽

Still sitting at some support, right at our late July highs.

If this level fails I still wouldn’t be surprised to see us test the bottom of this channel and that $4.13 area. $4.13 should offer good support. Would really like to see us hold that.

Looking to the upside, if we can take out that recent high it should spark more technical buying. Bringing us to that $4.40 to $4.46 level.

Beans 🌱

The bean chart doesn’t look anywhere as bullish as corn or wheat. But it’s not completely broken despite us breaking below that channel.

Currently sitting in this support zone (green box) between $10.18 to $10.00

We NEED to hold $10.00. If we do not, there is not much support below until we get close to those lows.

Resistance to the upside remains at $10.65-80

Wheat 🌾

This chart looks pretty friendly. Very similar to corn actually, but I like that we already back tested that mid-Sep high and bounced.

Would like to see us hold this channel support.

If we break the channel, we still have heavy support at $5.80

Looking to the upside, if we break those recent highs it should cause more technical buying. The next target is $6.40

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Sebastian Frost
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BEANS FALL APART