AUDIO COMMENTARY

We still like having hedges in cattle
Cattle still viewed as relief bounce for now until proven otherwise (chart below)*
How to properly manage risk in cattle
Area we’d re-own corn (chart below)*
Record ethanol numbers
Corn “usually” goes higher end of year
China cancels US wheat
Looking at getting feed coverage
No issues in South America, but market no longer cares about these China purchases
Nobody trusts the demand in soybeans
We could have plenty of soybeans if we don’t have any South America scares
Find a different approach if the tax man is forcing you to sell
Level I’m looking for in soybeans (chart below)*

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CHARTS

March Corn 🌽

This could be the bottom. We closed back above the 61.8% retracement to the Oct lows. Exactly where we recently found a bottom a few weeks ago.

I’m not looking to re-own unless we drop down into the blue box. That would be a great point of interest. As it is the golden zone of the entire rally.

It gives back 50-61.8% of the entire rally off contract lows.

I am not looking to re-own anything -10 cents off the highs and where we last sold at $4.50

If we come down to the blue box, that would be a reasonable place to find a bottom if this red box and yesterday’s lows do not hold.

To the upside, $4.50 is the clear level to break above.

We rejected there multiple times. It was old support from spring. It reclaims 50% of the Feb highs.

Jan Beans 🌱

We broke below the golden zone of this entire China fueled rally?

Now what?

Scroll to view where I think the bottom could be*

Since we broke that first 61.8% level.

The point of interest is going to be 61.% of the entire rally from contract lows.

That comes in at $10.48

That would be a great spot to look to re-own in my opinion.

If you remember.. the recent highs where we issued that sell signal were marked by reclaiming 61.8% of the contract highs.

So finding a bottom after giving back 61.8% of the entire rally from contract lows would make perfect sense.

Feb Live Cattle 🐮

Still sitting in the golden zone.

Still like taking some chips off the table here.

This is a common spot for a bounce to fail.

Take out the 61.8% level and we could be looking at something bigger, but until that happens this is viewed as a bounce that should be rewarded in my opinion.

Jan Feeders 🐮

Same exact story.

Still in the golden zone.

I also think we could have a potential exhaustion gap from last week. Which makes me even more cautious.

Past Sell or Protection Signals

Dec 11th: 🐮

Cattle sell signal & hedge alert.

NOBODY TRUSTS SOYBEAN DEMAND. CHINA CANCELS WHEAT

AUDIO COMMENTARY

CHARTS

Past Sell or Protection Signals

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