AUDIO COMMENTARY

Options exp tomorrow
Will try to peg corn at $5.00
Tomorrows price action is not as important as next weeks
Trump wants a deal with China
Feels like wheat played out winterkill story
Another cold snap would be worse later
Still a lot of Brazil bean pressure
Funds sold some of their long beans
Funds still want to be long corn
Won’t be in a weather market. What will push us?
Will we see massive corn acres?
First notice day could pressure us
Concerns about first notice day
Sell when you don’t know what you’ll raise
KC wheat chart still friendly? (Chart below)*
Chart breakdowns below*

Listen to todays audio below

Want to talk? (605)295-3100

CHARTS

Weekly Corn 🌽

Still right at this resitance point.

This is why a weekly close above $5.00 tomorrow would look really good.

Still have not completely broken out to the upside.

If we break out of this range though, upside is wide open.

As has been the case for weeks, $5.38 is big picture target for now.

Monthly Corn 🌽

Exact same story. Battling to get above this level.

Once we do, there is very little resistance higher.

Key spot for bulls to break.

May Corn 🌽

Nothing bearish about this chart except for a negative daily doji today.

Corn could realistically fall all the way down to $4.80 and still be fine from a technical standpoint.

$4.80 is the line in the sand for the bulls as there is zero support beneath. If corn ever failed there, it would trigger selling down to $4.60’s probably.

Dec Corn 🌽

Getting very very close to breaking this multi-year downward trend from Nov 2023.

Another solid push above and it should result in more upside.

Next target is $4.84 and just 5 cents away now.

Line in the sand for bulls is $4.60 to remain bullish.

March Beans 🌱

Really nothing new here.

Bulls continue to bid at the 100-day MA. As long as that holds, nothing to worry about.

If the 100-day MA gives out, then we likely visit $10 or so.

Bulls need above the 200-day MA to claim an uptrend is in place.

Nov Beans 🌱

Nothing new here.

Next target is still $10.82 for now.

May KC Wheat 🌾

Failed right at that target (38.2% of May highs) which also happened to be the Oct highs.

A drop down into the golden zone support box wouldn’t be surprising. (50-61.8% of the recent rally).

As long as bulls hold that, nothing too concerning.

That would be a standard correction.

But at the same time, the chart is not broken. We could continue higher from here. We are still in an uptrend. But fundamentally, it feels like the winterkill rally momentum is gone for now.

May Chicago 🌾

A standard correction would take us to $5.80 to $5.70 so as long as we hold that level nothing to worry about in my opinion.

We once again failed to break above the 200-day MA.

If bulls can do that, then it would likely confirm the trend is now higher.

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.