AUDIO COMMENTARY

Cattle at golden fib now (chart below)*
Disappointing action in grains
Where is corn buy zone? (chart below)*
Soybean MACD crossed bearish (chart below)*
Could high fertilizer lose corn acres?
Don’t want to sell stuff 2-3 years out
War priced in?
Rumors of Iran offering a deal to end war
USDA on report on Tuesday
March USDA typically doesn’t provide huge changes
Might make sense to spend some money to have a floor if you have to move grain by the end of the month

Listen to today’s audio below

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A FEW CHARTS

May Corn 🌽

We failed at the golden fib up to the November highs. Hence the recent alert. It’s the most common spot for a rally to stall.

Now what?

We left a nice candle today, so we could bounce before.

But if we get down to $4.36 to $4.39 that would be an area where we’d expect to find a bounce. I’d consider that a “buy zone”.

That is the golden zone of the entire rally.

May Beans 🌱

Still being cautious of a double top here.

The MACD indicator did flip bearish.

Last time that happened it marked the highs.

Something to just be cautious of. As we could be due for a correction.

The MACD is just a momentum indicator. It is telling us that momentum is starting to potentially shift lower.

April Live & Feeder 🐮

Both held that line in the sand support.

We broke below the support after gapping lower on Monday, but closed above it by the close.

Both have now clawed back 61.8% of the entire sell off. This is where relief bounces often fail. So a break above this level or a rejection here should be telling.