AUDIO COMMENTARY

Being cautious and comfortable in cattle
Market thinks the war is over
China still wants the war over
Have to like price action in grains
This mornings courage call alert
Why we alerted this signal
Courage calls give you “courage” to pull the trigger in your marketing
End of month report could be huge
A lot of time before crop is made
How courage calls work
Difference between ATM calls vs courage calls
Why free DP is not free
Want to end the week strong
KC broke out of the recent range
Wheat 40 cents off the lows
Will the funds really want to be short?
Crude oil posting new lows
How could acres shake out?
Typically we see more acres in June report. But this market hasn’t been following trends
Few chart breakdowns below audio*

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CHART BREAKDOWNS

I’ll be going over these in much further detail in tomorrow’s video, but here is what I am watching on a few charts.

Dec Corn 🌽

We are bouncing right where we need to at this 2-year long support. We’ve found a bottom here on 5 separate occasions.

If this is the start of a real bounce, I am currently eyeing the $4.60 to $4.70 levels.

That claws back 38.2% to 50% of the rally.

Normally the 50% to 61.8% levels are more common, but not when given the size of this sell off.

That same area is a big area of high volume and prior support and resistance on multiple occasions. Which makes it an even bigger point of interest.

July Corn 🌽

Running out of time on this chart.

But we’re finally finding some life.

38.2% to 50% of the sell off brings us to $4.37 to $4.47

That’s also prior support on multiple occasions.

Sep Corn 🌽

38.2% to 50% retracements of the sell off bring you to $4.44 to $4.53

An area of prior support and resistance as well.

Nov Beans 🌱

Found life right where we needed to.

Right at those March lows and highs from last November.

The golden zone comes in at $11.68 to $11.78

That is the area I am currently eyeing if the bounce continues. Which lines up with those highs from March as well.

July KC Wheat 🌾

We bounced exactly where we needed. Right at that 61.8% retracement level from contract highs down to contract lows that we had been talking about for a long time.

Now we want to see us crawl up and reclaim 38.2% to 50% of the sell off.

Which takes you to $6.65 to $6.80

That same level is prior support and resistance as well. It would also leave somewhat of a head and shoulders pattern.