GRAINS SMACKED. BEANS BREAK $10.00

AUDIO COMMENTARY

  • Beans break $10.00

  • US dollar continues to rally

  • Rain in Brazil forecasts

  • Corn & beans gap lower

  • Wheat dragging corn lower

  • USDA wasn’t bearish but didn’t help us

  • Funds don’t have many reasons to buy

  • We have big crops. USDA confirmed it

  • Watching the spreads to dictate if lows hold

  • Technical charts awful (charts below)*

  • Wheat chart not as terrible

  • Wheat down on rain in Russia

  • If you gotta move something

  • Defining risks & objectives

Want to talk? (605)295-3100

CHARTS

Corn 🌽

Corn chart doesn’t look too hot as of today.

We failed to hold the $4.13 support.

We broke that channel.

Next major support is $4.00

Beans 🌱

The bean chart looks awful. However, we are sitting at some support here (purple line)

This is the last big support between us and those old lows.

Wheat 🌾

The wheat chart looks the most friendly out of all the grains despite the big loss today.

We did break that upward channel, but have more trendline support below (2nd blue line).

$5.80 is a huge level of support.

It was old support several times, then it was resistance, it is now support. If that level fails, next stop is $5.65


Past Sell or Protection Signals

We recently incorporated these. Here are our past signals.

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


Want to Talk?

Our phones are open 24/7 for you guys. If you need help with anything at all, don’t hesitate to shoot us a call, text, or email.

(605) 295-3100

sfrost@dailymarketminute.com


Hedge Account

Interested in a hedge account? Use the link below to set up an account or shoot Jeremey a call at (605)295-3100

LEARN MORE


Previous
Previous

MORE PAIN FOR GRAINS

Next
Next

USDA BREAKDOWN