AUDIO COMMENTARY

Soybeans above 200-day for the first time since 2023. Should bring more upside (chart below)*
Wheat turned positive after being down heavy
Wheat bouncing right where needed (chart below)*
This is an area to buy wheat, not sell
Tariff news all over the place
Every day seeing hot & dry forecasts for summer
Want to make sales when this drought card pops up
What should you do if you don’t have hedge account?
Should you sell everything at once?
Sell when you don’t know what you will raise
Someone know something in the bean market?
Bean oil is screaming higher
The plan if we don’t get that seasonal rally
A lot of room & reasons for funds to buy
Options dirt cheap. Get comfortable
Do not watch the market go up & straight down
Dryness is bearish for next few weeks. Bullish after

Listen to today’s audio below

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CHARTS

July Corn 🌽

We found some life at the 38.2% retracement of this recent rally.

Bottom could be in but I’m not fully convinced as 50-61.8% is more common (blue box).

I think there is a chance could be that relief bounce before making one final leg lower. Perhaps get some strength on wet planting, then see some pressure as the forecasts dry out for planting.

Regardless, my text target is still $5.23-26

Here is a closer up look.

Again, not ruling out a drop down into the blue box before truly finding that bottom.

Dec Corn 🌽

Finding some life at the 50% retracement of the recent rally.

Ideally, bulls hold the 61.8% retracement at $4.49

Either way, next target after hitting the last short term target is still going to be $4.84 to $4.89

July Beans 🌱

For the first time in 483 days July soybeans are above the 200-day moving average.

A massive win for the bulls.

It should result in more upside if we can hold it.

We now want to turn it into support.

Technically we closed above this for 1 single day back in February, but we instantly dropped back below it the next day. Failing to turn it into support.

So I would like to see another day of follow through or to turn it into support to confirm that we are now in a trend higher.

The 200-day MA is often seen as a trend indicator. When you are above it, it signals the trend is now higher. So from a technical standpoint, we could be starting our first uptrend since Dec 2023.

Next target is $11.04