AUDIO COMMENTARY

Grains under pressure but bounce
Iran denies Trump proposal
Crude and grains well off lows
Cattle holds support. Key level
Corn & beans bounce at must hold levels (charts below audio)*
What to do at support levels?
How to utilize our upside/downside targets
China meeting next week
Those that need to move stuff and or behind vs those who are not
This is the seasonal window, but this isn’t your normal type of year either
Your situation determines your marketing plan
Are your sales profitable?
Comfort is worth more than anything
Courage calls vs puts
Some rain in the forecasts
The risks in the wheat market
Finger on the trigger for sales. Be ready
All chart breakdowns below*

Listen to today’s audio below

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CHART BREAKDOWNS

Below is a quick rundown of the charts. If you missed yesterday’s video where I went over the charts you can watch or read it here:

Click Here for Yesterdays Video

July Corn 🌽

Held that key support we talked about yesterday.

$4.63 is the 61.8% level of the rally.

It’s also old resistance from fall, where the market failed to bust through on several different attempts.

$4.63 is still the must hold level, as failure to hold could result in us going to test the prior lows and blue box.

But great reaction off the level today. As I said yesterday, if we are going to bounce, this would be the area we need to do so.

As this is where the market oftens tell us:

61.8% level holds = this is often a normal sized correction
61.8% level fails = this could be something more than your usual correction

Dec Corn 🌽

Similar-ish setup here.

Held 61.8% level perfectly.

That’s the level we need to hold.

If we are going to bounce, this is the level we need to do so. Otherwise it opens the door lower potentially.

July Beans 🌱

Like corn, also held the 61.8% level perfectly.

That same level was old resistance.

We were stuck in a tight range, we broke out. That 61.8% level is the old point of break out.

This could be a simply re-test, trying to turn old resistance into new support.

So this would be the level we need to hold and where we’d expect us to bounce if we are going to bounce.

As always, this box is usually where the market decides if this is a normal correction or not.

Nov Beans 🌱

We always talk about the golden zone.

However in a strong market like this one, the 38.2% to 50% level can be common, rather than the 50% to 61.8% level. Which is where we are currently finding life.

July beans are currently in the golden zone right now, so Nov finding life a set of fib levels higher might make sense as Nov has been far stronger. Hopefully that makes sense.

This same level was our prior resistance. Currently, attempting to turn that old resistance into new support.