IF CHINA IS BUYING, I’M NOT SELLING

Written By Sebastian Frost

AUDIO COMMENTARY

  • Beans lower on Brazil rains

  • Brazil rains still look spotty

  • Why we could see a bounce in beans

  • Wheat market rallies again, highest in a month

  • Potential breakout in wheat (chart below)

  • If China is buying, I’m not selling

  • China buys largest amount of wheat in 10 years

  • Corn close to breaking downtrend (chart below)

  • Managing your risk & having a plan

  • What tools not to use when marketing

  • Why not having a hedge account could cost you

Listen to today’s audio below

CHART BREAKDOWN

Corn 🌽

Corn testing that downtrend from late October. Bulls would like a break above and then a run up to $4.96 which we haven’t done since October 23rd. Currently sitting +15 cents off last weeks lows.

Beans 🌱

Beans sitting at that $13.05 level which we mentioned as the next downside risk on Friday. Bulls need to be aware that if we don’t hold $13 there is a wide gap of air down to $12.70.

Chicago 🌾

5th green day in a row. Now +66 cents off those contract lows from last week. We topped out at my $6.22 target I’ve had for a few weeks. We are getting awfully close to a breakout. Need a break and hold above $6.22 and it could lead to more short covering and really open up the charts.

WANT TO TALK?

Our phones are open 24/7 for you guys if you ever need anything or want to discuss your operation.

(605) 295-3100

sfrost@dailymarketminute.com

Sebastian Frost
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