AUDIO COMMENTARY

Massive day for KC wheat
No real new news in the war
Can cattle hold support?
Has the market finally realized there is a drought in HRW areas?
HRW could lose 25% or production?
Wheat exports 15% better vs last year
The world market could be lighter in wheat due to the fertilizer situation
The situation in wheat is unlike it has been in the last several years
Is demand starting to falter?
Funds don’t tend to stay long wheat very long
What should you do in wheat?
Don’t lose that carry
The situation makes you nervous in new crop beans. Makes sense to catch up to normal levels
Jeremey & Lauren Q&A below audio*
Chart breakdowns below audio*

Listen to today’s audio below

Q&A WITH JEREMEY & LAUREN

Here is a Q&A where Jeremey and Lauren from Texas Hedge go over a bunch of questions they’ve received from different producers.

If you have questions or want to talk feel free to reach out anytime.

Office: (806)484-1214

CHART BREAKDOWNS

July Corn 🌽

Nearing that target box.

$4.65 to $4.70 is where a typical relief bounce can often fail, aka the golden zone.

This same level was resistance back in fall as well as support last spring.

July Beans 🌱

Still completely sideways. Waiting for a break out in either direction.

A typical relief bounce will fail at $12.04 to $12.14 which is the area we want to reward if it comes.

Would like to see us continue to hold the local support at $11.70

July KC Wheat 🌾

Next target is still $7.00 for a few reasons.

That is the rough implied move from this bull flag pattern we broke out of it.

It’s the golden fib extension from the recent sell off. Meaning $7.00 equals 161.8% of the recent lows up to those March highs. That is a common level for a continuation rally to stall.

We originally failed at the 61.8%. retracement from contract lows up to contract highs. We now broke out. The next retracement is the 78.6%. level at $7.00