AUDIO COMMENTARY

Bean market ran hard but fell well off highs
Meal closed in the red despite Argy weather
The next few weeks very dry for Argy
Didn’t like beans & meal price action
Trump talk about not wide spread tariffs
USDA report on Friday. Final yields etc
Seems like market thinks corn carryout is getting smaller
This report is a BIG market mover
Protection is cheap right now
Very strong seasonal for beans lower in mid-Jan
Still believe wheat will be higher in the future
Should you protect new crop corn? Why you should maybe protect old crop instead because of the spreads
Buy protection on what is overvalued
Selling deferred puts in an invert market
$4.67 target in corn (chart below)*
Corn bouncing at 200-day MA (chart below)*
Levels wheat needs to break (chart below)*
Concerns in meal? (chart below)*
All chart breakdowns below*

Listen to today’s audio below

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CHARTS

March Corn 🌽

$4.67 is still the next big target

We do not have to back into the golden zone, but I am keeping it there to let you know that is where I think we will bounce if we do lower.

(Check out the next charts below where we go over another reason why $4.67 is the next target and how prices are finding support at the 200-day.)

2nd reason why $4.67 is the next target

$4.68 is the 61.8% retracement from the August lows to the May highs.

We are above the 50% retracement, next target is the 61.8%

Remember for the past several months I had been talking about the significance of the 200-day MA and how it had acted as a lid since 2022?

We are now above it for the first time since then.

Hopefully this will continue to act as support (old resistance turned new support)

When a market is above the 200-day MA, it signals the longer term trend is flipping more friendly.

March Beans 🌱

Beans sitting right at that support (red line)

If we bust below that, there is not much stopping us from testing those old lows.

To the upside, I am looking to de-risk in that green box if you are someone who is looking for a target.

Meal 🌱

The meal chart has me slightly concerned about beans, but of course the Argy headlines will be the driving factor.

We once again rejected that long term downward trend from May. We also hit the golden zone and 50% of the May highs.

If we bust above that downward trend things will get real interesting, but until then I am cautious here.

Continuous Wheat 🌾

We continue to find support in the support zone (green box)

Would like to see us hold this or the next big spot is that long term downward support (black line)

If bulls can bust that green downward trend from May that would be the first step in securing a much needed win for the bulls.

March Wheat 🌾

A little different pattern than the continuous chart, but this is still a friendly pattern in my opinion.

Need to bust out of this triangle.

March KC Wheat 🌾

KC continues to hold it’s lows. Would like to see us continue to do so.

First step for bulls is breaking that downward trend from November (red line)

Past Sell or Protection Signals

We recently incorporated these. Here are our past signals.

Jan 2nd: 🐮

Cattle hedge alert at new all-time highs & target.

CLICK HERE TO VIEW

Dec 11th: 🌽

Corn sell signal at $4.51 200-day MA

CLICK HERE TO VIEW

Oct 2nd: 🌾

Wheat sell signal at $6.12 target

CLICK HERE TO VIEW

Sep 30th: 🌽

Corn protection signal at $4.23-26

CLICK HERE TO VIEW

Sep 27th: 🌱

Soybean sell & protection signal at $10.65

CLICK HERE TO VIEW

Sep 13th: 🌾

Wheat sell signal at $5.98

CLICK HERE TO VIEW

May 22nd: 🌾

Wheat sell signal when wheat traded +$7.00

CLICK HERE TO VIEW

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1/2/25

MAJOR USDA REPORT FRIDAY

AUDIO COMMENTARY

CHARTS

Past Sell or Protection Signals

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THE HISTORY OF THE JAN USDA & MORE

UGLY DAY ACROSS THE GRAINS