BIG BOUNCE, FUNDS LONG CORN, DOLLAR & DEMAND
AUDIO COMMENTARY
Here is todays full audio.
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Grains get nice rebound
Record NOPA crush numbers
Strength in US dollar is weighing on wheat
Effects of dollar & demand
Trade war & Trump
Things to consider when making sales
Basis contracts & options exp
If corn demand isn’t front loaded
Record ethanol production
Funds long 100k corn
Funds follow the trends
Great spot to re-own wheat sales for some
Biggest thing need to be prepared for
What will you do if prices do not rally?
Fund positions from GrainStats below*
Chart breakdowns below*
Listen to today’s audio below
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FUNDS UPDATE
Here are the funds positions from Grainstats.
Make sure you go give them a follow & subscribe to their Twitter (@GrainStats on X). They put out great info all of the time and you can get charts like these anytime new data in the markets is available.
Fund Position (Weekly Change)
Corn: Long 110k (+88k)
Beans: Short -54.5k (+15.5k)
Wheat SRW: Short -45k (-14.5k)
Wheat HRW: Short -25k (-11k)
CHARTS
Dec Corn 🌽
Chart still looks the friendliest.
Got a bounce right in that golden zone we mentioned yesterday.
One day is not a trend. But my first target to re-hedge or make sales for those that need to if $4.39 to $4.46
Jan Beans 🌱
Good bounce today, looks like we are now finding resistance at that key volume area around $10.00
Still need to hold those $9.76 lows.
Until I feel confident we are making another move higher, I do not have another target to take risk off the table yet.
Dec Wheat 🌾
We broke the key $5.65 support. So that opened the flood gates to quick heavy selling. As I mentioned there was little support beneath if it broke.
Good bounce today, but good chance it was just a relief bounce.
The indicators were well over cooked to the downside (next chart).
Wheat is still very oversold here, so I could see this bounce going a little higher.
Longer term, wheat fundamentals are friendly and there’s plenty of potential. But the technicals still look very ugly today.
Currently stuck in this downward channel. A break out would a good step in the right direction.
The stochastics and RSI are completely bottomed out.
This is a sign that this bounce could go a little higher.
Dec KC 🌾
Just like Chicago, watching this channel.
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
11/14/24
3RD DAY OF GRAINS FALL OUT
11/13/24
GRAINS CONTINUE WEAKNESS & DOLLAR CONTINUES RALLY
11/12/24
ANOTHER POOR PERFORMANCE IN GRAINS
11/11/24
POOR ACTION IN GRAINS POST FRIENDLY USDA
11/8/24
USDA FRIENDLY BUT GRAINS WELL OFF HIGHS
11/6/24
GRAINS STORM BACK POST TRADE WAR FEAR
11/5/24
ALL ABOUT THE ELECTION & VIDEO CHART UDPATE
11/4/24
ELECTION TOMORROW
11/1/24
GRAINS WAITING ON NEWS
10/31/24
ELECTION & USDA NEXT WEEK
10/30/24
SEASONALS, CORN DEMAND, BRAZIL REAL & MORE
10/29/24
WHAT’S NEXT AFTER HARVEST?
10/25/24
POOR PRICE ACTION & SPREADS WEAKEN
10/24/24
BIG BUYERS WANT CORN?
10/23/24
6TH STRAIGHT DAY OF CORN SALES
10/22/24
STRONG DEMAND & TECHNICAL BUYING FOR GRAINS
10/21/24
SPREADS, BASIS CONTRACTS, STRONG CORN, BIG SALES
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