AUDIO COMMENTARY

Entire market takes it on the chin
Not a surprise in the grains, hence the signal 2 days ago
Moisture in Argy forecasts
Markets closed on Monday. Trump in Tuesday
Where my bias lays short vs long term
India creating more bean oil competition
Soybean meal chart looks ugly
Marketing thoughts
Puts are still not the worst play for some of you
Old crop led us lower on the down day. Example of why to protect what is overvalued
Not giving that advantage to big ag
Visual of Feb puts from Tuesday below*
Charts below*

Listen to today’s audio below

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VISUAL OF FEB PUTS

If you grabbed the Feb $10.50 bean puts you should have a floor of around $10.37, currently beans are trading at $10.19 and -45 cents off the recent highs.

If you grabbed the Feb $4.75 corn puts, you should have a floor of around $4.70

CHARTS

March Corn 🌽

Corn chart still looks pretty good.

If we correct, I am looking for a bounce in the green box. Altough we could even fall all the way down to $4.51 and the breakout point of the asending triangle and still be completely fine from a technical standpoint.

If we broke below that blue then I’d be concerned. Until then my bias does lean higher.

Next target if the rally resumes is still $4.85

March Beans 🌱

Soybeans need a bounce here. Sitting right in the golden zone.

If we do not bounce here we are likely going to test that big support level of $9.89

That level is the must hold level. As there is virtually zero support beneath that until the $9.40 lows.

If the rally were to continue, the next possible target would be the $10.80 range. But as I have said several times, I am hesitant to think we’ll be able to climb that high.