AUDIO COMMENTARY

Corn continues higher while beans pause
Crude oil posts new contract highs
No grains took out yesterdays highs
Beans more in weather market than corn
Even if SA crop gets smaller its still massive
People forget we have massive world demand
I don’t think beans “have” to get dramatically cheaper. There is definitely risk but the market is aware of the problems
Still like having protection for bushels that need to move by end of March and new crop you usually sell before March
Spread action was friendly in corn & beans
Why don’t we love making 2025 sales here?
Why we like the Feb puts the most vs Mar/May
Where is the strength coming from in corn?
The corn fundamentals have completely changed the past few months
$6 corn isn’t “probable” but it’s “possible”
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CHARTS

March Corn 🌽

Next target is still $4.85

If we get a correction I am looking for a bounce in the green box. The 50-61.8% retracements of the recent rally.

March Beans 🌱

If we get a correction we need a bounce in the green box to maintain a higher bias. The 50-61.8% retracements of the recent rally.

If we were to continue higher, the next point of interest and possible target would be a 3rd test of that black downward trendline in the $10.80 or so area.