BEANS CONTINUE DOWNFALL. CORN & WHEAT FIND SUPPORT

AUDIO COMMENTARY

  • Soybeans smacked again

  • Talk about delayed deforestation

  • Rumors China won’t buy beans until after election

  • Spreads aren’t adding up

  • Outside down day in beans

  • If you took advantage of bean signal

  • Still tons of downside risk in beans

  • A lot of talk about $8.00 beans

  • Diversifying risk

  • Corn found support at $4.00

  • Fundamentally huge difference in corn & beans

  • We need more demand or less beans

  • Good price action in wheat

  • See Russia story being friendly wheat

  • Corn calls can be cheaper than storage

  • Don’t let the buyers take advantage of you

  • River drought impact & risks

  • Charts below*

Listen to today’s audio below

Want to talk? (605)295-3100

CHARTS

Corn 🌽

Corn chart does not look good.

However, we did bounce right where we needed to at the $4.00 support.

This will be a key area to hold. If we cannot, there is not much stopping us from testing those old lows.

Pretty crucial spot here.

Beans 🌱

The bean chart looks awful. By far the worst of the grains. We have taken out every level of support.

Our next big support really isn’t until those old lows.

On the daily, we also had an outside down day (took out yesterdays highs, closed below yesterdays lows). This is often an indicator of further downside.

Wheat 🌾

The wheat chart looks the best of the grains.

We still remain in an uptrend.

We found support right where we needed to at this $5.80 level.

This $5.80 level is a big one. It was previous support & resistance several times.

If we fail here, next support 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 ever need anything or want to discuss your operation.

(605) 295-3100

sfrost@dailymarketminute.com


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OPTIMISTIC PRICE ACTION IN GRAINS

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