BEANS CONTINUE DOWNFALL. CORN & WHEAT FIND SUPPORT
AUDIO COMMENTARY
Soybeans smacked again
Talk about delayed deforestation
Rumors China won’t buy beans until after election
Spreads aren’t adding up
Outside down day in beans
If you took advantage of bean signal
Still tons of downside risk in beans
A lot of talk about $8.00 beans
Diversifying risk
Corn found support at $4.00
Fundamentally huge difference in corn & beans
We need more demand or less beans
Good price action in wheat
See Russia story being friendly wheat
Corn calls can be cheaper than storage
Don’t let the buyers take advantage of you
River drought impact & risks
Charts below*
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CHARTS
Corn 🌽
Corn chart does not look good.
However, we did bounce right where we needed to at the $4.00 support.
This will be a key area to hold. If we cannot, there is not much stopping us from testing those old lows.
Pretty crucial spot here.
Beans 🌱
The bean chart looks awful. By far the worst of the grains. We have taken out every level of support.
Our next big support really isn’t until those old lows.
On the daily, we also had an outside down day (took out yesterdays highs, closed below yesterdays lows). This is often an indicator of further downside.
Wheat 🌾
The wheat chart looks the best of the grains.
We still remain in an uptrend.
We found support right where we needed to at this $5.80 level.
This $5.80 level is a big one. It was previous support & resistance several times.
If we fail here, next support is $5.65
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
10/14/24
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
HIGHEST CLOSES SINCE JULY. UPSIDE & SALES CONSIDERATION
9/24/24
GREAT START TO THE DAY, AWFUL FINISH
9/23/24
MASSIVE DAY FOR THE GRAINS
9/22/24
EARLY YIELD TALK, DROUGHT, BRAZIL, SEASONAL LOWS & MORE
9/19/24
GRAINS SEE TECHNICAL SELLING
9/18/24
FED DROPS RATES, BRAZIL STORY, 2025 SALES?
9/17/24
TARGETS & WHAT TO DO IF YOU BOUGHT PROTECTION
9/16/24
WAS TODAY HEALTHY CORRECTION BEFORE GRAIN RALLY RESUMES?
9/13/24
CORN & WHEAT BREAK OUT: EVERYTHING YOU NEED TO KNOW
9/12/24