AUDIO COMMENTARY

War and weather unknown
Impacts of war could take a while to resolve
Great action in the grains
First close over $5.00 for Dec corn
Puts and riding the wave higher
2nd best corn inspections of year
Have marketing align with possibilities
Having cheap stuff in case things get wild
Possible hedging ideas
Don’t want to lock in grains and not lock in your inputs. Want to lock in profits
Realize the upside potential but do not do absolutely nothing
Balance and finding your comfort level
Planting continues to run ahead of pace
Inching closer to China meeting
Some say it might make more sense for China to buy some corn vs old crop soybeans
USDA report out next week
Funds near record long the ag market

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CHARTS

Dec Corn 🌽

Got the breakout.

Looking like we could now have some room to run.

Target still remains at $5.12 to $5.15

Which is the contract highs and golden fib.

July Corn 🌽

Also potentially got the breakout.

Next target remains around $4.90 to $5.00

$4.90 is 61.8% of contract lows to contract highs and is the highs from last April.

$5.00 is the highs from last February.

Front Month Chart 🌽

We broke above the last retracement level from the harvest lows up to the Feb 2025 highs.

Next big resistance is the highs from last Feb at $5.00

Nov Beans 🌱

We got the break out last week, now running.

The golden fib is $12.09 so that is the target for now.

A secondary target would be the 200% extension at $12.30

We are showing some potential bearish divergence, so might want to be looking to reward here soon as we get closer to the targets.

July Beans 🌱

Finally broke out of the chop.

We closed above the 61.8% retracement of the entire sell off. Good sign as that means this is likely not some dead cat bounce but rather something bigger.

Next resistance is the 78.6% level at $12.30

After that it’s the recent highs at $12.50