AUDIO COMMENTARY

Going to be short trading weeks
Is corn going pull beans up? Or will beans pull corn down?
Will exports continue when Trump arrives?
Funds are now long a lot of corn, which means they can sell out
Crush numbers disappointing for beans
Beans still at must hold levels
SA crops not getting smaller
Hard to say what’s priced in bean market
Corn world balance sheet is tight
Old crop corn still at a premium
Basis contracts could be good tool in corn soon
+$5 corn and sub $4 corn both very possible with Trump
Knowing your basis and having an outlook
All chart breakdowns below*

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CHART BREAKDOWNS

March Corn 🌽

We hit the green retracement box so that could’ve been it for the correction, but I personally think the correction isn’t over yet.

I am still looking for a bounce around $4.35 to $4.38 or so (50-61.8% retracements)

And I think we likely still back test that old resistance of the symmetrical triangle.

If you look at the 100-day MA (purple line) it has started to curl upwards for the first time in a long time. That is a positive sign longer term.

The stochastics are another reason why I think there is a decent chance this correction isn’t over yet.

They still are up near the top with plenty of room to come lower.

BUT there is exceptions to this where the stochastic can remain elevated for quiet some time. Personally I do not think this is one of those, but it could be.

Jan Beans 🌱

Nothing has changed.

Still sitting in this descending wedge waiting to pick a direction.

Break below and sub $9.00 is the implied move.

Break above and we will look for opportunities.

The stochastics are getting low but not yet quiet at the bottom.

They have a little more room to go lower and will probably bottom out in a day or two.

Perhaps this will coincide with those must hold levels of $9.75 and we once again get a bounce. As we now only have 7 cents between here and the lows.