AUDIO COMMENTARY

New highs in everything today
Wheat leads the way higher
Peace talks in Russia at dead end
Implied volatility has gone through the roof
Options market betting on 2022 wheat potential
Huge opportunity in options right now
People jumping on bullish bandwagon
Best August ever for Dec corn
Lot of comparisons to 2010 and 2020
Sky is limit but there are unknown risks
Major Sep USDA report coming soon
Have your finger on the trigger for stuff that needs to be moved by the end of the year
Getting close to corn & bean target levels
Don’t be surprised if we are down hard one of these days
What’ll cause buyers to stop buying the dip?
If you are underwater on sales
How are you reacting?
What strategies might fit you?
Could see Dec-26 start to invert on Dec-27
Should you be patient or aggressive?
Keep a couple bullets left to fire
That potential we’ve been talking about for a very long time is starting to unfold
Today’s wheat alert. KC hit target (chart below)*

Listen to today’s audio below

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Today’s KC Wheat Sell Signal

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KC WHEAT CHART

Dec KC Wheat Chart 🌾

This was the main reason we issued the sell signal & hedge alert today.

We hit our first target in KC wheat.

$8.50 was the implied move from this cup and handle pattern we’ve been talking about for the last several weeks.

Not only that but it was the golden fib. The 161.8% retracement from the June lows up to the May highs.

We of course don’t have to stop here, but it’s a good area to do something. As we are now +$2.20 off the lows from June.

One other thing to note is that we do have some slight bearish divergence on the RSI as well.

Prices clearly made new highs, but the RSI has not made new highs vs the July highs.

This of course does not mean wheat cannot keep pushing. Because it can. But given this along with hitting the target is enough of a reason to be considering managing some risk up here at multi-year highs.

Wheat was trading under $5.00 last fall. It’s at $8.50 now.