AUDIO COMMENTARY

Wheat hitting target box (chart below)*
Cattle locked limit down
China dropped retaliatory tariffs
Patient on stuff you that you don’t need cash for until next spring/summer
The less time you have the more proactive you need to be
Soybeans have the potential for $12 or higher
We don’t know if we need to ration bean demand yet
How to play the soybean market and ride the rally while keeping a floor under us
Don’t love giving wheat away at these levels but we are up against some target levels if you were long
Close to issuing a wheat sell signal if you are going to need cash or going to need to move something
It was announced China bought wheat. Cautious of a buy the rumor sell the fact here. Will any details be released?
Corn still at resistance (chart below)*
Seasonally corn is supposed to be weak here
Need hedge accounts for some opportunities
StoneX had some big yield numbers

Listen to today’s audio below

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CHARTS

Dec Corn 🌽

Same story that it’s been for a week. Chopping in this area.

Still right up against resistance and our first target.

Rejecting here would not be a shock since it is resistance.

If we correct, we need to hold the red box.

On the other hand, if we break above the green box the upside is wide open.

We are also right up against the 200-day MA. Which can often indicate what trend a market is in, whether it’s above or below.

Jan Beans 🌱

Next targets are:

$11.55

$12.00

Targets do not have to hit. They are there to let you know it’s a good spot to de-risk if they do.

This market could correct at anytime, but it doesn’t have to.

If you look at my chart video from yesterday, I outline a few reasons why I think $12.00 is very possible.

For yesterday’s video on the charts: CLICK HERE

Dec Wheat 🌾

We hit the target box today.

50% of the June highs.

We like de-risking between here and $5.69 (61.8% of June highs).

However, I am most likely waiting on alerting a sell signal until KC tags the target box. As it has yet to do so since Chicago has been leading the move higher. (Scroll for KC chart).

Chicago is also nearing trendline resistance. Another reason we are looking to de-risk soon.

On the other hand, if we break above the 61.8% level it usually indicates further upside.