ARE YOU A PRICE MAKER OR PRICE TAKER THIS HARVEST?
AUDIO COMMENTARY
Outside markets hammered but grains hold up
What are yields showing?
Basis situations
How to stay in the game if you are forced to sell
We have the cheapest wheat in the world
Making sure you follow recommendations that fit you
Why producers have all the power
Becoming a price maker
Getting an edge over the big players
Listen to today’s audio below
THE CHARTS
Corn 🌽
I need a break above $4.92 1/2 which could open the door to higher prices. After that we have targets at our retracement levels of $5.07, $5.30, and our 50% retracement of $5.49 1/2.
Bulls need to hold $4.73 1/2
Beans 🌱
Bulls need a break above $12.81 1/2 to confirm more upside. They absolutely need to hold yesterday’s low of $12.56 1/2. If they don’t, there is a big air gap that could cause even more technical fund selling.
Chicago 🌾
Bulls need a close back above $5.70. Perhaps then we can look to test of our targets of $6 and $6.38 which are our 25% and 38% retracements from the July to now sell off.
Bulls also need to hold those multiple year lows of $5.39 if we don’t want to see more technical selling.
KC 🌾
Getting awfully close to those previous lows. A break below could cause even more technical selling. So bulls need a bounce here.
First upside target is our 23.6% retracement of $7.25 1/2
