AUDIO COMMENTARY

USDA next Tuesday
We don’t have ton of extra corn for sale
The world corn situation is tight
Mexico can’t get corn from anywhere else
One worry is still crude & deflation
This corn market is led by demand
Dry spring will lead to more corn acres and lead to initial pressure. Will be an opportunity
Early planting leads to more drought talk
Will take new highs or certain time frame for a bunch of farmer selling
Saving some bullets for usual opportunity
The US bean situation could get tight
Don’t like selling new crop beans
There is definitely risk in Chinese demand for soybeans. No China risk for corn
Corn balance sheet could get really tight if yield or acres slip
World demand growing for wheat
Why I could see wheat lead the markets
Being patient unless have to move something
All grains bouncing where needed. Targets (All chart breakdowns below)*
Weekly corn reversal chart below*

Listen to today’s audio below

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CHART BREAKDOWNS

Weekly Corn 🌽

First one I wanted to show.

We had a very strong dragonfly doji posted on the weekly chart.

This happens in a downtrend and often signals a bullish reversal to the upside.

Big picture:

If we ever break that $4.96 level. There is no resistance to the upside. Big picture target is still $5.37 as it has been for several months now. IF we break that level.

Example & Close Up:

Here is a close up of the chart to give you clarity.

Here is an example of that pattern.

May Corn 🌽

Bounced right where we needed to and at our buy signal.

Next target is $4.80 as that was the old must hold support we failed to hold (old support is now resistance)

That is also 50% of the sell off.

That will be a good spot to take some risk off the table for some of you as a precaution. As that is resistance.

If we break and hold above that level, that would be a very friendly sign. But until then it is resistance and a target.

Dec Corn 🌽

Just like May corn, bounced exactly where we needed to.

Short term target is $4.60

That is 50% of the sell off.

Also happens to be that old resistance we topped out at twice. (green box)

Just like on May, this is a target and resistance until we break above and turn it into support.

May Beans 🌱

Bounced right off the buy signal and where we needed to.

We have resistance right here at the 100-day MA. (circled other times it was resistance)

If we can bust above that, then I think the next stop could be $10.50 range. So that is a target if you are looking for one.

That is 61.8% off the sell off.

It would also get us close to that 200-day MA that we have not closed above since 2022. So that is going to be big resistance (circled previous times it was resistance)

Still have the potential head & shoulders playing out nicely.

Big picture possible target is $11.35 range

Nov Beans 🌱

Pretty much exact same set up in Nov as May.

Held right where we needed to.

Sitting right under the 100-day MA which is resistance.

Need above that and it should bring us to the 200-day MA.

May KC 🌾

Bouncing right where we needed to in the support box.

Really just trapped in a massive range now between $5.40 to $6.30

Continuous Chicago 🌾

Bounced at that support box for the millionth time over the past year plus.

Must hold level.

May Chicago 🌾

Sitting in this channel.

Bounced where we needed to.

Resistance is going to be the top end of the channel.

Generic Cash Sales Tracker

Due to requests here is our generic cash sales trackers.

This does not include any hedge recommendations etc. Simply cash.

This is futures prices.

For old crop there is no percentages as we only recently started tracking our generic sell signals. Future new crop sales will have percentages as we continue to make sales.

This will be included at the bottom of every update.