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
Sep 30th: 🌽
Corn protection signal at $4.23-26
Sep 27th: 🌱
Soybean sell & protection signal at $10.65
Sep 13th: 🌾
Wheat sell signal at $5.98
May 22nd: 🌾
Wheat sell signal when wheat traded +$7.00
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Check Out Past Updates
10/10/24
USDA TOMORROW
10/9/24
MARKETING STYLES, USDA RISK, & FEED NEEDS
10/8/24
BEANS FALL APART
10/7/24
FLOORS, RISKS, & POTENTIAL UPSIDE
10/4/24
HEDGE PRESSURE
10/3/24
GRAINS TAKE A STEP BACK
10/2/24
CORN & WHEAT CONTINUE RUN
10/1/24
CORN & WHEAT POST MULTI-MONTH HIGHS
9/30/24
BULLISH USDA FOR CORN: RECOMMENDATION
9/27/24
UP-TOBER? SELL SIGNAL, TARGETS, & FACTORS
9/27/24
BEAN SELL SIGNAL
9/26/24
NEW HIGHS BUT CONCERNING CLOSE
9/25/24
HIGHEST CLOSES SINCE JULY. UPSIDE & SALES CONSIDERATION
9/24/24
GREAT START TO THE DAY, AWFUL FINISH
9/23/24
MASSIVE DAY FOR THE GRAINS
9/22/24
EARLY YIELD TALK, DROUGHT, BRAZIL, SEASONAL LOWS & MORE
9/19/24
GRAINS SEE TECHNICAL SELLING
9/18/24
FED DROPS RATES, BRAZIL STORY, 2025 SALES?
9/17/24
TARGETS & WHAT TO DO IF YOU BOUGHT PROTECTION
9/16/24
WAS TODAY HEALTHY CORRECTION BEFORE GRAIN RALLY RESUMES?
9/13/24
CORN & WHEAT BREAK OUT: EVERYTHING YOU NEED TO KNOW
9/12/24
USDA RAISES YIELD BUT REPORT WASN’T ALL THAT BEARISH
9/11/24
USDA TOMORROW. MAKE OR BREAK SPOT ON CHARTS
9/10/24
USDA THURSDAY
9/9/24